AFD finances euro 22.8m for Lao Cai's infrastructure
04-AUG-2008 Intellasia | Saigon Times Daily page 4
Aug 4, 2008 - 7:00:00 AM
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The French Development Agency (AFD) will today sign in Hanoi two financing agreements totalling euro 22.8 million including a loan of euro 22 million and a grant of euro 800,000 to support rural infrastructure development in Lao Cai Province.
AFD said the project is part of a comprehensive support programme of infrastructure and eco-tourism development in favour of the northern mountainous province of Lao Cai. It aims to reduce the level of poverty and deprivation in the rural area and to promote a durable living conditions improvement in the mountainous districts there.
In particular, the supporting project will provide funds for developing rural infrastructure in three districts of Sapa, Bac Ha and Si Ma Cai totalling 305 kilometres of rural road. Sapa town infrastructure development will include wastewater treatment, water supply, drainage and public lighting and urban roads.
In addition, the project will help eco-tourism development and institutional capacity strengthening in Lao Cai.
According to AFD's survey, the GDP per capita of the province is around 6 million dong and its total population is now estimated at 565,700.
The support programme is co-financed by AFD, the Vietnamese government and the French Global Environment Fund (FGEF), with a total amount of 27.68 million euro.
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