Asia Development Bank on Thursday signed a contract to fund US$190 million to develop a university in Hanoi that follows an international model.

The project to build a state-of-the-art Hanoi University of Science and Technology is scheduled to be implemented between the beginning of 2012 until the end of 2017.

Tomoyuki Kimura, the national director of ADB in Vietnam, said the project will focus on developing research and teaching activities at the school to meet international standards.

The school also will create a better connection with related industries, Kimura said, as cited in a report on Vietnam government website.

The new model university project is expected to set a new development frame for changes at other educational institutions, he said.

Work will be executed by the Vietnam Ministry of Education and Training at Hoa Lac High-tech Park, 30 kilometers from the capital center.