The State Bank of Vietnam (SBV) and the Asian Development Bank (ADB) signed three loan agreements totalling 245 million USD on December 21 to help Vietnam improve education, energy supply and natural disaster risk management.

The first 90 million USD loan will go towards Phase Two of the Upper Secondary Education Development Project. Its purpose is to increase the competitiveness of labourers aged 18-24 by improving upper secondary education to meet international standards. There will be special focus on female and ethnic minority students from underprivileged households.

The second loan of 110.19 million USD is Part Two of the 730 million USD power transmission investment programme that ADB approved in December 2011. It supports partial implementation of the National Power Sector Development Master Plan VII (PDMP VII) to meet growing electricity demand in Vietnam .

Under the third loan agreement, 45 million USD from ADB and a grant of 5.9 million USD from the Australian Agency for International Development (AusAID) will be used to improve flood and drought risk management and mitigation within the Lower Mekong Basin.-VNA