Borrowing agreement signed with ADB for calamity damage rehabilitation project
07:05 | 03/01/2007
VNGOVNet – Authorized by the PM, Governor of the State Bank of Vietnam Lê Đức Thúy represented the Vietnamese State to sign on December 7 with the National Director of the Asia Development Bank (ADB) in Vietnam a borrowing agreement for the Project “Emergency Rehabilitation of Calamity Damage in 2005” coded VIE 40282-01.

The Project has a cost of US$ 59.89 million, to which ADB provides US$ 50.97 million in preferential loan from the Asian Fund for Development (AFD) with maturities of 40 years, including a ten-year grace period. The interest rates are 1% during the grace period, 2% in the next 10 years after that and 4% for the remainder. The borrower’s fund is US$ 8.92 million disbursed from central and local budgets. The project is scheduled to end on September 30, 2009.

By Phương Uyên

(Source: Document 2147/TTg-QHQT)

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