Specifically, this is a type of long-term export buyer credit according to the regulations of the  Organization for Economic Cooperation and Development (abbreviated as OECD).

Loan term is 10 years, including 3 years of grace, 6-month LIBOR interest rate + 1.7%/year, management fee is 0.75% of total loan capital, commitment fee is 0.65%/year, credit insurance fee is 7.97%/total loan value.

The Prime Minister requested the Vietnam Development Bank to sign a loan contract with KB Bank.

In early February 2009, the Hanoi-Hai Phong Auto Expressway Project was started on the entire route. And especially recently, this socio-economically important project is having positive movements, aiming to ensure progress on schedule.

This is a type A expressway project with a starting point in Hanoi (6km), passing through the provinces of Hung Yen (26.5km), Hai Duong (40km) and ending in Hai Phong (33km), the entire route is about 105.5km long with a cross section of 6 lanes, roadbed width of 35m, road surface of 22.5m with 2 emergency stopping lanes, 6 intersections, 9 large bridges, 21 intermediate bridges and 22 overpasses.

As a national key project directly approved by the Prime Minister, the construction of the Hanoi-Hai Phong expressway not only balances traffic flow on the national highway but also completes the road traffic network in the region, promoting the economic development of the provinces it passes through and the entire region.

According to Gia Vi - VGP News

(Source: Official Dispatch No. 2330/TTg-KTTH)