Vietnam ’s Hoang Anh Gia Lai Joint Stock Company will provide Laos with 14 million USD to finance construction of dormitories for athletes competing at the 25th Southeast Asia Games scheduled in late 2009.
Under an agreement signed in the Lao capital city of Vientiane on June 21, 4 million USD of the sum will be doled out as a grant, and the remainder, a three-year soft loan.
The project will feature 10 four-storey buildings and other auxiliary facilities covering an area of 5.3 hectares near the Lao National University .
The company is planning to build a five-star hotel and a wood processing factory in Vientiane.