PM okays to negotiate for ADB loans

VGP – The Government chief on October 31 accepted the plan to negotiate with the Asia Development Bank (ADB) for the Borrowing Agreement and other related documents for the Project "Comprehensive socio-economic development of Thanh Hóa City".

October 31, 2008 5:00 PM GMT+7

The project requires a total investment capital of over US $115 million in which ADB pledges to give a loan of US $72 million. Around 200,000 are expected to be beneficiaries.

The project focuses on upgrading the city’s downtown, improving urban infrastructure, building and upgrading about 20km of roads linking villages in the East, South and West of the city and related urban services located along this route.

By Kim Loan