ADB lends Vietnam 190 million dollars for science university

Nov 10, 2011, 10:08 GMT

Hanoi - Vietnam signed two loan agreements with the Asian Development Bank (ADB) on Thursday worth 190 million dollars, to build a scientific university to help industrialization.

The University of Science and Technology of Hanoi will focus on international-standard teaching and research with strong links to industry, the ADB said in a press release.

The current level of university education in Vietnam was falling behind the government-set targets, the bank said, and the country needs to devote more effort to developing high-quality human resources.

'To progress beyond middle-income country status and become an industrialized nation by 2020, Vietnam needs to accelerate building its knowledge, science and technological capacities,' ADB Vietnam country director Tomoyuki Kimura said.

France is to contribute an additional 100 million euros (around 135 million dollars) over 10 years to help develop the project.

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