The Asian Development Bank (ADB) has just approved a loan of USD190 million for a university which could serve as a model for Vietnam.
 |
| Hanoi University of Technology is among Vietnam\'s top universities of technology. |
The largest part of the loan, USD170 million, will come from the bank’s ordinary capital resources (OCR), while the other USD20 million will come from the bank’s Asian Development Fund (ADF).
The new institution will be named the University of Science and Technology of Hanoi, and is meant to contribute to the development of Vietnam’s research and development, and technical innovation resources.
The French government will also provide EUR100 million over ten years, and the Vietnamese Government will fund USD23 million of the project.
“The new institution will offer an improved policy framework for administration, financing and quality of education that could be implemented all across Vietnam,” said Norman LaRocque, ADB’s Senior Education Specialist for Southeast Asia.
Speaking at the Vietnam Business Summit, part of the ongoing 44th ADB Annual Meeting, Vo Hong Phuc Vietnamese Minister of Planning of Investment said that from 1993 to March of this year, ADB approved 105 loans, amounting to USD9.39 billion to Vietnam.
ADB President Haruhiko Kuroda said that ADB will continue to support to Vietnam’s development.