Asia Development Bank helps improve lives in Vietnam’s northeastern provinces
The Board of Directors of the Asia Development Bank (ADB) has approved a US$150 million loan to improve economic connectivity and living standards in four northeastern provinces of Vietnam via upgrading basic infrastructure and services.
The project will benefit over 212,000 people in Bac Kan, Cao Bang, Ha Giang and Lang Son provinces.
ADB Country Director in Vietnam Eric Sidgwick expressed his belief that the project will help develop the four provinces, especially in trade, agriculture and tourism.
The targeted province are expected to become trade hubs thanks to proximity to China, Hanoi, Hai Phong port and the ADB-supported Greater Mekong Subregion North-South Economic Corridor.
However, the gross domestic product per capita hits only US$1,160, nearly half of the country’s average US$2,036.
The project will clear barriers via developing basic infrastructure in the key fields of trade, transport, health care and agriculture while improving road connectivity by upgrading around 121km of provincial roads and 144km of district roads, supplying water to 42,300 rural people and improving infrastructure in agricultural value chain in Lang Son.
At the same time, it will also enhance capacity of provincial authorities, especially in public asset management.
The total cost of the project is estimated at US$195.9 million, US$45.9 million of which was from the Vietnamese government. It is scheduled for completion by the first quarter of 2023.