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Vietnam Today

ADB provides $165 million in new lending

Released at: 23:14, 26/01/2015

ADB provides $165 million in new lending

Funding to support projects in secondary schooling for ethnic minorities and infrastructure development in central region.

by Linh San

The Asian Development Bank (ADB) and the Vietnamese Government have signed two loan agreements totaling $165 million for improving lower secondary education for ethnic minorities in the country’s poorest regions and for additional financing to scale up investments in rural infrastructure in six selected provinces in the central region.

$80 million is for the Second Lower Secondary Education for the Most Disadvantaged Areas Project, a continuation of the Lower Secondary Education for the Most Disadvantaged Regions Project that was implemented successfully and completed by the end of 2014.

With an implementation period over six years from early 2015, the new project aims to improve the net enrolment rate in lower secondary education in the target areas by 5 per cent towards 2020 through the construction of 660 more classrooms, 350 semi-boarding facilities, around 250 teacher housing sites, training of some 24,000 teachers, and the development of about 344 new school clusters.

$85 million is for additional financing of the Integrated Rural Development Infrastructure Sector Project, which was approved by the ADB’s board in October 2007.

According to Mr. Tomoyuki Kimura, ADB Country Director for Vietnam, the financing is a timely response to the government’s priorities in lower secondary education for the most disadvantaged areas and rural development, which are consistent with ADB’s country partnership strategy, 2012-2015, for Vietnam. “Built on implementation experiences and lessons learned from the first phase of the projects, the ADB provides further support to the government’s efforts to continue delivering lower secondary education of ethnic minority in the poorest regions and addressing rural infrastructure constraints,” he said.

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