Provincial People's Committee and Asian Development Bank signed the memorandum of understanding
Within the framework of the Workshop "Orientation for linkage and development of the Northern Midlands and Mountains region to 2030, with the vision to 2045" in Lao Cai on the morning of November 16th, People's Committee of Lao Cai Province and Asian Development Bank (ADB). ADB) signed the memorandum of understanding for cooperation worth more than $116 million for the period 2022 - 2027.Chairman of People's Committee of Lao Cai Province Trinh Xuan Truong and Mr. Andrew Jeffries, Country Director of the Asian Development Bank in Vietnam - Resident Delegation to Vietnam jointly signed the memorandum of understanding.
The scene of signing ceremony of the memorandum of understanding.
Attending and witnessing the signing ceremony were Mr. Nguyen Xuan Thang, Politburo member, Director of Ho Chi Minh National Academy of Politics, Chairman of the Central Theoretical Council; Tran Tuan Anh, Politburo member, Head of the Central Economic Commission; Dang Xuan Phong, Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the National Assembly Delegation of Lao Cai Province.
The Memorandum of Understanding between the Provincial People's Committee and the Asian Development Bank - Resident Delegation in Vietnam expresses the opinions of the parties in the cooperation in approving and implementing the proposed Project "Infrastructure and Urban sustainable Development in Lao Cai province”.
The partnership between ADB and People's Committee of Lao Cai Province is based on mutually beneficial cooperation. Both sides see further advantages in establishing the comprehensive strategic partnership for future cooperation. The two sides will find cooperation solutions in project approval and implementation, improving the efficiency of ongoing projects.
The two sides also agreed to identify potential projects in the fields of transport, climate change, social fields, regional cooperation and other fields according to the mutual agreement between the Provincial People's Committee and ADB.
People's Committee of Lao Cai Province agrees to contribute in kind and reciprocal capital for ongoing projects according to project-specific agreements that have been agreed or soon to be agreed (depending on each cases) with ADB for each respective ongoing projects.
Accordingly, the project "Infrastructure and Urban sustainable Development in Lao Cai province" for the period 2022 - 2027 is worth more than 116 million USD, of which the ADB loan is 83 million USD, the counterpart budget more than 33 million dollars. The project will invest in infrastructure and improve people's livelihoods, improve provincial connectivity, and provide technical assistance.
On this occasion, Chairman of People's Committee of Lao Cai Province Trinh Xuan Truong presented Mr. Andrew Jeffries, Country Director of the Asian Development Bank in Vietnam - Resident Delegation to Vietnam, the brocade embroidery painting of the highland people (photo above)./.
