WB guarantees US$500 million for the expansion of National Highway No.20

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, announced that it will guarantee Vietnam access to US$500 million of international loans for the 15-year expansion of National Highway No.20.

Goldman Sachs, Sumitomo Mitsui Banking Corporation, and a syndicate of other international commercial banks will be providing the loans.

The expansion of a 124.77-kilometer section started January 2014.

The National Highway No.20 is the main route connecting Ho Chi Minh City with the Central Highlands.

The project aims to reduce traffic congestion.

By Ham Yen – Translated by Kim Khanh

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