Copyright 2003 M2 Communications Ltd.
M2 PRESSWIRE

April 24, 2003

LENGTH: 346 words
HEADLINE: ADB
Signing Ceremony for grant to improve Kunming-Haiphong corridor
DATELINE: Hanoi, Viet Nam
BODY:
The signing ceremony for an Asian Development Bank (ADB) technical
assistance (TA) grant of US$ 1 million to prepare a project to improve
a section of the Kunming-Haiphong transport corridor in Viet Nam was
held today at the State Bank of Viet Nam, Hanoi.
John Samy, CD, VRM, Phung Khac Ke, Deputy Governor of the State Bank
of Viet Nam,and Nguyen Viet Tien, Vice Minister, Ministry of Transport
signing the TA agreement
The Government of Viet Nam was represented by Mr. Phung Khac Ke,
Deputy Governor of the State Bank of Viet Nam. ADB was represented by
John Samy, Country Director for Viet Nam. Mr. Hiroaki Fujiwara,
Counselor, the Embassy of Japan was also present.
The grant will come from ADB's Japan Special Fund, financed by the
Government of Japan.
The corridor is one of the key transport projects the six Greater
Mekong Subregion (GMS) countries have pledged to promote in their
regional economic cooperation program.
The GMS includes Cambodia, Yunnan Province of the People's Republic of
China (PRC), Lao People's Democratic Republic, Myanmar, Thailand and
Viet Nam.
The TA will examine alternatives to suggest the optimum transport mode
to connect Lao Cai, near the PRC border, to Haiphong. A detailed
feasibility study will follow. If the study determines the transport
mode to be either railway or inland waterways, this will be the first
cross-border project with either transport mode to be funded by ADB in
Viet Nam. If road is selected, this will be the third cross-border
road project to be funded by ADB in Viet Nam.
The improved link will not only enhance access to Lao Cai Province,
one of the poorest regions in Viet Nam, from Hanoi, but also open up
opportunities for growing trade and investment in the region.
ADB 2003 Asian Development Bank
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