The Asian Development Bank (ADB) said Thursday it will provide a US$10 million loan to Vietnam and a US$10 million grant to Laos to support the development of tourism.

The two sums will cover most of the cost of $21.98 million for a tourism development project, the bank said in an announcement. Vietnam will contribute $1.11 million and Laos $870,000 to complete the funding requirement.

The project will help create more jobs for the poor while protecting the environment, ethnic groups, and minorities, according to ADB. The project will benefit nine provinces in Laos and five provinces in Vietnam, which have been selected for their high tourism potential and poverty rates.

The project will support the construction of handicraft markets, viewing points, small access roads, walking trails, information and visitation centers, parking areas, small river piers, community lodges, and sanitary facilities, according to ADB.

It will also promote strong partnerships among local governments and communities and the private sector in developing, operating, and maintaining community tourism facilities.

The project areas form part of the priority zone under the Greater Mekong Sub-region Tourism Sector Strategy 2006-2015. The sub-region is composed of countries sharing the Mekong River – Cambodia, China, Laos, Myanmar, Thailand and Vietnam.

Vietnam welcomed about 3.3 million foreign arrivals between January and September, up almost 6% on the same period of last year. This number includes some 2 million mere tourists, up 4.3%.

(Source: SGGP)