The Asian Development Bank (ADB) will make a 72 million U.S. dollar loan to central Thanh Hoa province of Vietnam to help develop and upgrade key urban infrastructure and services, the Vietnam News reported Monday.

The loan will be provided pursuant to an agreement signed last Friday by Governor of the State Bank of Vietnam Nguyen Van Giau and ADB Country Director Ayumi Konishi.

The ADB loan will finance a large portion of Thanh Hoa's 115 million U.S. dollar Comprehensive Socio-economic Development Project, part of a nationwide government plan to promote sustainable development of Vietnam's mid-sized cities.

Eximbank of the Republic of Korea will finance an additional 32. 7 million U.S. dollars of the cost.

The loan will facilitate road and bridge construction and rehabilitation, the replacement of damaged water lines, improvements to sanitation facilities, and upgrades to a museum and other key tourism sites.

The project is expected for completion in December 2014.