The Asian Development Bank (ADB)'s Board of Directors has approved a $299 million loan to help improve economic connectivity, living standards, and infrastructure, and promote inclusive growth in Vietnam's central, north-central, and northeastern provinces.
$149 million is for the central and north-central region, benefitting over 1 million people in the four provinces of Ha Tinh, Nghe An, Quang Binh, and Quang Tri.
The loan will be financed from ordinary capital resources, where most of ADB's lending comes from.
Meanwhile, $150 million is to support northeastern provinces by enhancing basic infrastructure and services. The assistance is expected to help over 212,000 people in the four provinces of Bac Kan, Cao Bang, Ha Giang, and Lang Son. The project will improve road connectivity among the provinces and improve the agricultural value chain infrastructure through farm-to-market connectivity and support for local businesses.
