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Highway loan deal signed with S Korea

Apr 8th at 13:13
08-04-2013 13:13:22+07:00

Highway loan deal signed with S Korea

A US$200 million loan agreement was signed last Friday for the Lo Te-Rach Soi highway construction project.

Signatories were Deputy Finance Minister Truong Chi Trung and Chairman of the Republic of Korea (RoK)'s Import–Export Bank Kim Yong Hwan.

The Lo Te-Rach Soi highway runs through the Mekong Delta provinces of Can Tho and Kien Giang and connects Vam Cong Bridge and Rach Gia bypass as part of the southern coastal corridor.

Addressing the ceremony, Trung said the official development assistance loan, provided via the Economic Development Cooperation Fund (EDCF), is part of a Viet Nam-RoK credit agreement for the period 2012-15 worth $1.2 billion signed in 2012.

The EDCF has so far financed 43 projects in Viet Nam with a total capital of $1.7 billion.

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