Vietnam Central Bank Talks with ADB for Sub-Mekong Urban Development

The State Bank of Vietnam, the country’s central bank, negotiated with the Asian Development Bank (ADB) on Oct 11-12 on the lending agreement for the “Urban development along the sub-Mekong corridor” project. The negotiation is part of procedures required for the project costing $147.2 million including $130 million funded by the bank to upgrading infrastructure in Tay Ninh and Quang Tri provinces, the government said on its website. The project which will last for six years from Jan 2013 will focus on expanding urban roads, building embankments, waste water treatment plants, upgrading river wharfs, the government said. The project on Vietnam’s southern coastal corridor which lies in the Mekong delta where is home to a dense network of waterways and navigable canals will benefit residents in transport, one of main factors help boost socio-economic development. Vietnam has 13 provinces including centrally-governed city Can Tho lies in the Mekong delta with roughly 17 million or 20% of the country’s total population. This region needs more investment due to economic difficulties. (Chinhphu.vn Oct 12)