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Loans needed to fund infrastructure

Update: March, 21/2013 - 08:48
The intersection of The Dau Giay - Lien Khuong roads in Lam Dong Province. The province has asked the Asian Development Bank to support eight infrastructure development projects, including the Dau Giay - Lien Khuong Expressway. — Photo Thanh Vu

LAM DONG (VNS)— The Central Highlands province of Lam Dong has asked the Asian Development Bank to support eight infrastructure development projects that require nearly VND52 trillion (US$2.48 billion) investment.

Worthy of note is the Dau Giay - Lien Khuong Expressway project which requires an investment of VND44 trillion ($2.1 billion).

Meanwhile the programme to build Da Lat into a green and sustainable development city needs an investment of VND4.7 trillion ($221 million).

Others include the Da Lat City's Beltway; the beltway of Bao Loc City; the bypass in the western section of Bao Loc; and the beltways for the towns of Thanh My (Don Duong District), Lien Nghia (Duc Trong District) and Dinh Van (Lam Ha District).

The provincial authority of Lam Dong said feasibility studies for all these projects had been completed.

Meeting with ADB representatives yesterday, the chairman of Lam Dong Province People's Committee, Nguyen Xuan Tien, said that ODA (official development assistance) loans from international donors and financial support from ADB were major sources of capital for the projects, along with locally mobilised capital.

Tien said the ADB had not only provided financial support but also helped the province train its staff in management.

Lam Dong has six ODA-funded projects using ADB loans in agriculture, forestry, biology, education and training, health and water supply, with total investments of over VND1.03 trillion ($49.2 million), including VND775 billion provided by the ADB.

According to the provincial authority, most ADB-funded projects in the province have been carried out smoothly, benefiting local residents. —VNS

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