State Bank of Vietnam partners with World Bank for road asset management

The State Bank of Vietnam and the World Bank have inked a credit deal worth $250 million to improve the country’s efficiency and sustainability of road asset management. The funding, aimed at supporting the $301.7 million Vietnam Road Asset Management Project (VRAMP), will come from the International Development Association – a World Bank agency responsible for assisting low-income countries.

The funding will have a lending period of 25 years at a preferential interest rate of 1.25 per cent per annum. Moreover, the Australian government is also providing $1.54 million to VRAMP through a trust fund managed by the World Bank. The project is scheduled for implementation between 2014 and 2020.

Brunei dollar (BND) 1.25; Combodian riel (riel) 3,921.79; Indonesian rupiah (Rp) 11,600.90;

Lao kip (kip) 7,875.14; Malaysian ringgit (RM) 3.28; Myanmar kyats (MMK) 966.80;

Philippine peso (PhP) 44.54; Singapore dollar (S$) 1.27; Thai baht (baht) 32.51;

Vietnamese dong (dong) 20.923.80

(as of February 25, 2014)