ADB to Fund State-of-the-Art Model University in Vietnam

The Asian Development Bank (ADB)’s Board of Directors has approved loans of US$190 million to establish the University of Science and Technology of Ha Noi - a state-of-the-art institution which will support research, technical innovation, and skills development. The Government of France will complement the ADB assistance by extending about 100 million EUR over 10 years to help develop the university, with the Government of Viet Nam providing US$23 million.

 

Along with funding physical facilities to accommodate an initial 5,000 students, the project will develop modern governance and management systems and capacity-build senior staff. It will also establish centres to promote high quality, relevant academic programs, research, and links to industry groups in the private sector. These features will provide a model that can be replicated at other local universities in the future.

 

ADB’s loans comprise US$170 million from ordinary capital resources (OCR), and US$20 million from the hard terms facility of its concessional Asian Development Fund (ADF). The OCR loan has a 26-year term, a 6-year grace period, and interest set in accordance with its LIBOR-based lending facility. The ADF loan has a 32-year term, an 8-year grace period, and carries an interest charge of 2.02 percent.

 

Q.C