The Asian Development Bank (ADB) has just approved a loan of USD190
million for a university which could serve as a model for Vietnam.
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| Hanoi University of Technology is among Vietnam's top universities of technology. |
The largest part of the loan, USD170 million, will come from the
bank’s ordinary capital resources (OCR), while the other USD20 million
will come from the bank’s Asian Development Fund (ADF).
The new institution will be named the University of Science and
Technology of Hanoi, and is meant to contribute to the development of
Vietnam’s research and development, and technical innovation resources.
The French government will also provide EUR100 million over ten
years, and the Vietnamese Government will fund USD23 million of the
project.
“The new institution will offer an improved policy framework for
administration, financing and quality of education that could be
implemented all across Vietnam,” said Norman LaRocque, ADB’s Senior
Education Specialist for Southeast Asia.
Speaking at the Vietnam Business Summit, part of the ongoing 44th ADB
Annual Meeting, Vo Hong Phuc Vietnamese Minister of Planning of
Investment said that from 1993 to March of this year, ADB approved 105
loans, amounting to USD9.39 billion to Vietnam.
Resource: DTI News
