Euro11.9Mln Credit Agreement Signed to Develop Infrastructure in Son La

11:17:27 AM | 20/3/2006

On March 15, in Hanoi, Mr Nguyen Thanh Do, General Director of the Foreign Finance Department of the Ministry of Finance and Mr Edouard DANJOY, Director of the French Development Agency (AFD) signed a Euro11.9 million credit agreement. This funding aims to finance the Hydro-Agricultural Infrastructure Development Project in Son La Province.

This project details the construction of eight hydro-agricultural infrastructures including dam and irrigation systems in order to improve the province’s water resources. These infrastructures are located in the poor districts of Son La province: Yen Chau, Tuan Chau, Song Ma and Phu Yen.

The total cost of the project, estimated at Euro 15.5 million, is co-financed by AFD, Son La Province and the local beneficiaries. The AFD’s loan will be granted to Son La Province.

To date, the total loans committed by the AFD group to Vietnam have reached Euro 649 million (including operations commitment in private sector), in which ODA has reached Euro 592 million.

Thu Huyen