Vietnam eyes $130M ADB loan for electricity project

Prime Minister Nguyen Tan Dũng has approved the list of investment project of power transmission network 1 worth $155.6 million, of which $130 million is planned to borrow from Asian Development Bank.

The Prime Minister seeks to improve the effectiveness of the National power transmission corporation on November 3. Projects will be funded by ADB.

The power transmission network 1 project is worth $155.63 million, with $130 million to be borrwed from ADB. For the technical infrastructure project worth $0.72 million, $0.6 million is intended to be borrowed from ADB.

The Ministry of Industry and Trade will closely work with the Vietnam Electricity Corporation to complete the project documents and take responsibilities to approve these projects.

The State bank of Vietnam and relevant agencies are appointed to prepare necessary procedures for loan negotiation with ADB.