ADB to extend $150m loan to Vietnam for rural development

Photo by Rafa Prada on Unsplash

The Asian Development Bank (ADB) has approved a $150 million loan to support development in four of Vietnam’s northeastern provinces – Bac Kan, Cao Bang, Ha Giang, and Lang Son. The financial aid is expected to help over 212,000 people through enhancing basic infrastructure and services.

“Viet Nam has been experiencing remarkable growth over the last few years. However, the majority of economic gains have accrued in the urban areas, with rural areas, including provinces in the northeast, lagging behind,” said Eric Sidgwick, ADB’s Country Director for Viet Nam, in a statement.

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