ADB lends Vietnam $195 mn for hydroelectric project
Asian Development Bank will lend Vietnam $196 million for constructing a hydroelectric project.
By Agencies |
MANILA: The Asian Development Bank (ADB) is to lend Vietnam $196 million for a hydroelectric project in Quang Nam province, the Manila-based lender said on Friday.
The 156-megawatt Song Bung 4 hydropower project will be built on the Song Bung River in the central Vietnamese province and is expected to be completed by 2013, the ADB said in a statement.
"Vietnam has an acute need for more power generation," the statement said. "Electricity demand has grown at an average rate of 15 per cent per annum and it is expected to maintain a high growth rate until 2015.
"Affordable and reliable electricity is essential to Vietnam's continued economic growth and poverty reduction efforts," said ADB Energy Specialist Pradeep Perera.
"This project will improve the stability and reliability of the country's power network, and will further reduce its dependency on fossil fuels," he added.
The project will mean relocating four villages with 206 households who are from the Co Tu ethnic minority group and who live below the poverty line.
The ADB said the people will be provided with new homes as well as clean water, schools and medical facilities.
The 156-megawatt Song Bung 4 hydropower project will be built on the Song Bung River in the central Vietnamese province and is expected to be completed by 2013, the ADB said in a statement.
"Vietnam has an acute need for more power generation," the statement said. "Electricity demand has grown at an average rate of 15 per cent per annum and it is expected to maintain a high growth rate until 2015.
"Affordable and reliable electricity is essential to Vietnam's continued economic growth and poverty reduction efforts," said ADB Energy Specialist Pradeep Perera.
"This project will improve the stability and reliability of the country's power network, and will further reduce its dependency on fossil fuels," he added.
The project will mean relocating four villages with 206 households who are from the Co Tu ethnic minority group and who live below the poverty line.
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The ADB said the people will be provided with new homes as well as clean water, schools and medical facilities.
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