(VOVworld) - A credit agreement for the Hanoi-Hai Phong Highway project was signed in Tokyo on Wednesday between Vietnam Development Bank (VDB), Sumitomo Mitsui Bank Corporation (SMBC), and Citibank of Japan.
Under the agreement, SMBC and Citibank will provide VDB with loans of 270 million USD to carry out the project within 15 years.  The project will play an important role in promoting economic development in the Red River Delta. It is an important project for more than 200 Japanese enterprises which have business and production units along the route. According to VDB, the Hanoi-Hai Phong highway project will be the first intercity traffic route in Vietnam to meet international standards. The project’s final phase is scheduled to begin this year.