(VOVworld) - The Vietnamese Government and the Asian Development Bank (ADB) have signed two loan agreements totaling nearly 234 million USD to support reforms to strengthen the country’s competitiveness and to help deliver a sustainable urban transport system in Hanoi.

The signed agreements include a 230 million USD policy loan for the Improving Competitiveness Programme, which will support the Economic Management Competitive Credit Programme. The programme will support government reforms in six policy areas, including the financial and fiscal policy sectors, public administration and accountability, state enterprise management, public investment management, and the business environment.

The second agreement is for a 4.2 million USD loan for the Strengthening Sustainable Urban Transport for the Hanoi Metro Line 3 Project, which has a total investment of 58.95 million USD. The project aims to improve access to stations, and enhance connectivity between the line and other modes of public and private transport. The project will also strengthen urban transport policies and regulations.