China will help Vietnam secure Chinese preferential loans and borrow from a multilateral development bank to finance infrastructure and other joint projects, according to an announcement made at the end of a state visit to China by Vietnamese President Tran Dai Quang.
“The two sides will create conditions to tap Asian Infrastructure Investment Bank (AIIB) funds for infrastructure connectivity projects,” it said. “China will also provide facilitation for Vietnam when it applies for Chinese preferential loans or other funds.”
China and Vietnam agreed to push for the completion of the Hanoi light rail (Cat Linh – Ha Dong) project and the design of a standard-gauge railway linking Hai Phong, Hanoi, and Lao Cai, part of a cross-border railway network that connects China with Vietnam’s eastern coast. It urged companies involved in these projects to settle problems and overcome challenges “as soon as possible.”
Share on:
