WB funds Mekong Delta transport infrastructure
16:39 | 09/05/2013

VGP - The Government has recommended the President to approve an Agreement on additional financing for the “Mekong Delta Transport Infrastructure Development Project”, whose capital is sourced from the World Bank (WB)’s loan.

As authorized by the Prime Minister on March 8, the Governor of the State Bank of Viet Nam and a WB representative signed the Agreement on additional financing and related legal documents for “Mekong Delta Transport Infrastructure Development Project” financed by WB.

Accordingly, WB committed to providing Viet Nam a preferential credit amount valued at $156.91 million with the term of 25 years, including 5 grace years, an interest rate of 1.25%/year and a service fee of 0.75%/year.

The implementation of provisions in the Agreement shall support Viet Nam in relieving key bottlenecks in the main transport corridors in the Mekong Delta region and improving the poor’ s access to those corridors; and contribute to the socio-economic development and poverty reduction in the area.

By Ngoc Van

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