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>> ADB to fund USD 1 billion clean water project
The Asian Development Bank (ADB) will provide Vietnam with a loan worth USD1.38 billion to provide access to clean water.
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| Many households in Vietnam\'s cities do not have a reliable water supply. |
An agreement signed between the Governor of the State Bank of Vietnam, Nguyen Van Giau and the President of ADB, Haruhiko Kuroda in Hanoi this morning (April 5) will provide funding to water supply, infrastructure and reforestation projects.
Prime Minister Nguyen Tan Dung was the witness to the signing.
Of the sum, USD1 billion was allocated specifically to improve access to clean water, which could help an estimated 3 million households in cities, who do not currently have a reliable supply.
According to the ADB, the loss rate of treated water in many Vietnam’s big cities is up to 40%.
An additional USD30 million will go towards protection of biodiversity in the forests of Quang Tri, Thua Thien Hue and Quang Nam provinces as well as Truong Son Mountain.
The remaining part of the loan, USD350 million, will fund part of a larger ADB project to construct the Ben Luc-Long Thanh Highway, expected to be operational in 2017. The route is meant to ease traffic in the heart of Ho Chi Minh City.
