The Asian Development Bank (ADB) has pledged to provide close to 1.1 billion USD in loan for the construction of the first phase of the Noi Bai-Lao Cai expressway.

As much as 896 million USD of the capital will source from the ADB’s Ordinary Capital Resources (OCR) while 200 million USD will come from the bank’s concessional Asian Development Fund (ADF).

The remaining capital needed for the first phase of the project, worth 120 million USD, will be mobilised through bond issuance.

Prime Minister Nguyen Tan Dung on November 3 asked the State Bank of Viet Nam to finalise all related documents for prompt negotiation and signing of a credit agreement with ADB.

The highway will link Ha Noi with the northern border province of Lao Cai , joining China ’s Kunning – Hekou highway at Quang Kim commune, Lao Cai’s Bat Xat district.- (VNA)