Vietnam borrows $188 million to boost connectivity in the north
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The Asian Development Bank will lend Vietnam $188 million to upgrade roads towards improving connectivity in northwestern provinces. Under an agreement signed by ADB and the Ministry of Finance Tuesday, the loan will be used to upgrade of 198 kilometers of roads that connect several towns and districts in northwestern provinces of Lai Chau, Lao Cai and Yen Bai with the Noi Bai – Lao Cai Expressway.
The 265-kilometer expressway is part of the Greater Mekong Subregion (GMS) Kunming-Hai Phong Transport Corridor that connects Hanoi with northern localities in Vietnam and Yunnan Province in China.
Some of the road upgrades will create economic opportunities for some of the poorest people in the project area, the bank said.
“The project aims to expand the benefits of the GMS corridors to the northwestern provinces,” said Eric Sidgwick, ADB country director for Vietnam.
“The improved connectivity will not only boost border trade, private investment and job creation in the region, but also provide better access to basic social services, such as education, health care, job training and emergency disaster relief for the people of the northwestern provinces, especially the poor ethnic minorities,” he added.
Questions & Answers
Q.Which specific provinces in Vietnam will benefit from the improved road infrastructure?
Which specific provinces in Vietnam will benefit from the improved road infrastructure?
The road upgrades will improve connectivity in the northwestern provinces of Lai Chau, Lao Cai, and Yen Bai. This aims to expand the benefits of the GMS corridors to these areas, boosting trade and services.
Q.What is the total length of road improvements being funded by this loan?
What is the total length of road improvements being funded by this loan?
The loan will be used to upgrade 198 kilometers of roads within the northwestern provinces. These roads will connect various towns and districts to the Noi Bai, Lao Cai Expressway, enhancing regional access.
Q.What broader economic corridor is the Noi Bai, Lao Cai Expressway part of?
What broader economic corridor is the Noi Bai, Lao Cai Expressway part of?
The Noi Bai, Lao Cai Expressway is a component of the Greater Mekong Subregion (GMS) Kunming-Hai Phong Transport Corridor. This larger corridor links Hanoi with northern Vietnamese localities and China's Yunnan Province.
Q.Beyond economic growth, what other benefits are expected for the local population?
Beyond economic growth, what other benefits are expected for the local population?
Improved connectivity will provide better access to essential social services such as education, healthcare, and job training. It will also help with emergency disaster relief, especially for the poor ethnic minorities in the region.
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