President makes decision to revise infrastructure development loan agreements in 4 central provinces

On February 20, 2024, President Vo Van Thuong signed Decision No. 167/QD-CTN, allowing for the modification of Agreements No. 3634-VIE and 3635-VIE (COL) for the Basic Infrastructure Project for the comprehensive development of the provinces of Nghe An, Ha Tinh, Quang Binh, and Quang Tri, with financing from the Asian Development Bank (ADB) based on the government's proposal in Dispatch No. 53/TTr-CP on February 2, 2024.

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Vinh city, Nghệ An province is being developed into the economic and cultural center of the North Central Region. Illustrative photo: Nguyễn Văn Nhật/TTXVN

The Basic Infrastructure Project for Comprehensive Development of the four mentioned provinces, committed by ADB to provide loans, are $52 million (Agreement No. 3634-VIE) and $97 million (Agreement No. 3635-VIE (COL). The project has been approved for adjustment by the authorized agencies of the provinces of Nghệ An, Hà Tĩnh, Quảng Bình, and Quảng Trị, in which the project’s implementation period is adjusted until September 30, 2025.

The amended Agreements aim to extend the disbursement deadline until September 30, 2025, allowing the managing agencies to continue using ADB’s preferential loan capital, promoting economic and social development in the project’s localities.

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