PM approves proposal for infrastructure project for central provinces
The Prime Minister has approved a proposal for an infrastructure project in the central provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri to assist with economic growth in the region.
Hanoi (VNA) – The Prime Minister has approved a proposal for aninfrastructure project in the central provinces of Nghe An, Ha Tinh, Quang Binhand Quang Tri to assist with economic growth in the region.
The proposal said theproject would be funded by a loan of 97 million USD from the Asian DevelopmentBank (ADB).
The Prime Minister has assigned the Ministry of Finance to identify theproject’s domestic financial mechanism to ensure beneficiary localities couldmeet the conditions on loan payment capacity and loan limits as prescribed bythe State budget law.
The Ministry ofPlanning and Investment was requested to coordinate with relevant agencies toassess a report on investment proposal, and submit to the Government leader inJanuary 2017.
The ADB-funded projectaims to upgrade and build new transport infrastructure in the region, thusenhancing regional connectivity, boosting trade, and improving businessenvironment. Production infrastructure will also be built to increase theregion’s competitiveness and attract investment into the region./.
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Illustrative image (Source: VNA)
