ADB provides loan to power sector
The loan agreement was signed in Hanoi on February 10 by Governor of the State Bank of Vietnam Nguyen Van Binh and ADB Vice President Stephen Groff.
The first loan is designed to assist the construction of almost 648km of 500kV power line and more than 100km of 220kV power line and transformer stations nationwide.
At the event, Governor Binh said the project is also expected to increase the national power transmission corporation’s management capacity.
ADB Vice President Stephen P Groff said Vietnam has made remarkable progress in expanding access to power but some rural and mountainous areas have yet to access the national power grid.
Vietnam should supply electricity in a sustainable manner and upgrade electricity generation and transmission capacity, he said.
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