Previously, under the authorization of the Prime Minister, on February 23, 2011 in Hanoi, the State Bank of Vietnam (SBV)’s governor, Nguyen Van Giau, signed the loan agreement on the aforementioned project with representatives of Asian Development Bank (ADB) in Vietnam.
The main content of the project in the first phase is to carry out construction and installation for 200 kilometers in the NR 217, construction of Cam Thuy branch and repairing the road pavement.
The preferential credit worth $75 million for a term of 32 years including eight years grace period has the lending rate at 1 percent per year during the grace period and it will be 1.5 percent per year in following years. The duration to carry out the project will be five years (2011-2016).
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