ADB loans over $930 mil. for highway building

A loan agreement for the highway project was inked today between the State Bank of Việt Nam (SBV) and the Asia Development Bank (ADB).

To fund the US $932.4-million construction, ADB pledged to offer US $410.2 million from its ordinary capital resources (OCR).

Another US $516.5 million will come from the Japanese Government through the Japanese Bank for International Cooperation (JBIC).

The Vietnamse Government is in charge of allocating the corresponding capital of US $5.7 million.

The highway Hồ Chí Minh City-Long Thành-Dầu Giây runs 51 km in total length, including a 1.7-km bridge across the Đồng Nai River in Long Thành.

The construction is scheduled to be completed in 2014.

By Phương Uyên