ADB finances US$234 million to improve competitiveness, transport in VN

VGP – The Asian Development Bank (ADB) and the State Bank of Viet Nam has signed two loan agreements, worth US$234 million, to support reforms improving Viet Nam's competitiveness and develop a sustainable urban traffic system in Ha Noi.

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The first loan, including a policy loan valued US$230 million for the competitiveness enhancement program will support the economic management competitive credit program.

The program aims to sponsor the Government's renovation in six areas including finance, fiscal policy, public sector responsibility and management, State-owned enterprises management, public investment management and business environment.

The second agreement, worth US$4.2 million, is aimed at improving the effectiveness of other ADB-financed projects, including the Ha Noi urban railway number 3 through activities to upgrade the connections between railways and other public and private transport vehicles.

The Viet Nam Clean Technology Fund Investment Plan will provide another loan of US$49 million to support sustainable transport interests in the urban railway.

(news.chinhphu.vn)