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ADB supports expressway projects in Vietnam
The Asian Development Bank (ADB) is financing preparations for three expressway projects in Vietnam that will support sustainable economic growth and enhance socio-economic development in the project areas.
The two expressways will connect Hanoi and Lang Son, and Ha Long and Mong Cai in the northeastern region of Vietnam, which belong to the Greater Mekong Subregion (GMS) Eastern Corridor. They are expected to strengthen economic ties with China, particularly the Guangxi Zhuang Autonomous Region, according to a press release by the Manila-based bank.
The other expressway will connect Ben Luc and Long Thanh in the southern region of Vietnam and is also on the GMS Southern Corridor. This will stimulate economic activity in the greater Ho Chi Minh City area.
To lay the groundwork for the projects, the ADB will provide a 26 million-USD technical assistance loan in special drawing rights. In addition, it will provide a separate grant of 1.5 million USD for a feasibility study on a section of the GMS Eastern Corridor, and a 1.5 million-USD grant from its Japan Special Fund for a feasibility study on the expressway planned for the GMS Southern Corridor.
“The expressways will reduce travel costs and improve road safety; and ultimately support sustainable economic growth and enhanced economic exchanges, as well as reducing poverty and increasing livelihood opportunities in the project areas,” said Yasushi Tanaka, a Transport Specialist with the ADB’s Southeast Asia Department.
VNA
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