ADB to financially help develop VN’s road transport

VGP – A non-refundable technical assistance of US $1 million from the Asian Development Bank (ADB) will help to improve the management and attract investment in Việt Nam's road transport network.

October 20, 2010 3:02 PM GMT+7

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The grant will help the Ministry of Transport and competent agencies strengthen institutional and financial arrangements, operation and maintenance activities, and project management.

A plan for the long- and medium-term institutional enhancement of the Việt Nam Expressway Management Administration will be developed, and real-time advisory support to Ministry of Transport officials will be provided.

The fund will be also used in a research on how to mobilize capital for Việt Nam's 1,811 km North-South Expressway, a massive project estimated to cost US $17.9 billion.

The Vietnamese Government will contribute US $150,000 as counterpart funding. The Ministry of Transport is appointed as the main implementer of the project which is due for completion around August 2011.

By Ngọc Vân