Ever biggest ODA treaties inked by VN, Japan

VGP – Seven ODA loan agreements totally valued around US $1.3 billion were signed by Vietnamese Deputy Finance Minister Trần Xuân Hà and Vice President of the Japan International Cooperation Agency (JICA) Oshima Kenzo in Tokyo on Tuesday.

November 10, 2009 4:31 PM GMT+7

Vietnamese Deputy Finance Minister Trần Xuân Hà (R) and JICA Vice President Oshima Kenzo sign agreements, Tokyo, November 10, 2009 - Photo: VGP

This is the ever biggest commitment made by the Government of Japan to Việt

Nam

Nearly ¥64.9 billion will be used to fund five projects on sponsoring small and medium enterprises, encouraging the effective use of energy, building the Thái Bình thermoelectric plant, constructing a bypass of National Highway I, and developing infrastructure for poverty reduction,

Also in this fiscal year, the Government of Japan offers Việt Nam two cash loans worth of ¥54.9 billion for poverty reduction and economic stimulation.

Deputy Minister Trần Xuân Hà asserted that, the signing of loan agreements is a step forward in realizing the strategic partnership between Việt Nam and Japan.

Since 1992, the Government of Japan has pledged to offer Việt Nam total ODA of over ¥1,369 billion, always being the country’s biggest bilateral ODA donor. Japan has always been the biggest ODA donor for Việt Nam.

Japanese ODA-funded projects in Việt Nam mainly involve in developing infrastructure such as energy, transport, seaports and telecommunications.

By Ngọc Vân