ADB, France to support rural infrastructure rehabilitation in Vietnam
MUMBAI - The Asian Development Bank (ADB) said along with France, it will assist Vietnam in rehabilitating and upgrading vital infrastructure to improve livelihood opportunities and the standard of living of the rural population in the area.
The bank said the integrated rural development sector project, estimated to cost 168.2 mln usd, will receive a 90 mln usd loan from its Asian Development Fund.
Agence Francaise de Developpement will extend a 52 mln usd loan and a 1.3 mln usd grant for the project. The balance will be covered by the Vietnamese government, the ADB stated.
The project area, comprising 13 provinces in the Central Region, has been identified by ADB and Vietnam as a region of special focus for development investment due to its high poverty incidence, the bank said.
The ADB said the project will target critical rural infrastructure that have deteriorated over past decades due to war, natural disasters and budgetary constraints that have limited maintenance and is expected to boost agricultural productivity, employment opportunities, and improve access to public services.
AFX / Thomson Financial News - October 25, 2007.
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