ADB Raises Aid for Vietnam's Storm-Hit Infrastructure

The Asian Development Bank will scale up its current emergency assistance loan to Vietnam by USD25.5 million to restore rural infrastructure destroyed by typhoons in 2005. The funding, which tops an initial ADB loan worth USD50.97 million, will be used to finance cost over-runs due to increased expenditures in civil works, materials, and labor along with further damage caused by storms in 2006 and 2007. (“ADB Increases Funding for Viet Nam’s Typhoon-Damaged Areas” - Asian Development Bank, Dec. 8, 2008)

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