Can Tho, Danang get French loans for development projects
Saturday, 12/10/2011 07:00
Can Tho and Danang cities will borrow loans worth EUR10 million each from the French Development Agency (AFD) to implement their development projects.
A document to this effect was signed in Can Tho city on December 8 between representatives from the Ministry of Finance and urban development investment funds of the two cities.
The loans, channelled through the Ministry of Finance, will be paid over 20 years, including a seven-year grace period and with an annual interest rate of 9.17 percent.
They will be used to carry out projects on culture, health care, education and the environment, address urban development issues, and adapt to climate change.
Source : CPV/Vovnews