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BIDV funds road construction project in Laos

(VOV) - The Bank for Investment and Development of Vietnam (BIDV) will lend US$53.16 million to Laos to build a road in Houaphan province.

A document to this effect was signed in Vientiane on June 20 by representatives of the Lao government and BIDV.

Under the loan agreement, a two-lane and 67km long road will be built linking Thamnou and Xamtai communes.

Once the project is completed, it will be connected to northern provinces of Laos and the road system of Vietnam, especially the Nghi Son deepwater seaport in Thanh Hoa province, helping Laos spur socio-economic development and facilitate trade between Vietnam and Laos.

Laos Finance Minister Lien Thikeo thanked Vietnam for financial sources for transport infrastructure construction, and vowed to use the sources effectively.