Vietnam will provide 43 million USD in preferential loan for Laos to upgrade a road segment that links a number of its northern provinces and some northwestern provinces of Vietnam.
An agreement to this effect was signed between Vietnam’s Finance Minister Vu Van Ninh and his Lao counterpart Somdy Douangdy in Hanoi on Feb. 5.
This is Laos’ second infrastructure project to receive financial support from Vietnam after the first one, which was provided with 48 million USD to upgrade a road segment from Laos’ Attapeu province to Central Highlands Kon Tum province of Vietnam .
The two projects are expected to facilitate Laos’ economic development and enhance bilateral ties between Laos and its neighbouring country.