ADB to Finance Vietnamese Water Projects

The Asian Development Bank (ADB) is to fund the Northern Chu and Southern Ma Rivers Irrigation Project in Vietnam, which requires a total investment of $115m.

The project will be carried out with an $80m loan from ADB, $20m from the Vietnamese Government and $15m from other donors, according to vovnews.vn.

The Manila-based bank will also provide a loan of $60m to go towards the $120m Phuoc Hoa reservoir project, which aims to mitigate the effects of floods and droughts in the Greater Mekong sub-region.

In addition, ADB will provide non-refundable technical assistance of $800,000 to upgrade irrigation systems in the central and north-eastern Red (Hong) River Delta and $1m to develop the rural infrastructure of the Central Highlands and Binh Phuoc provinces.