RoK provides US$19 million for Viet Nam's healthcare project

VGP - The Ministry of Finance on June 9 signed an Official Development Assistance (ODA) agreement with the Export-Import Bank of the Republic of Korea (EXIM Bank) on a US$19 million loan that covers the supply of medical equipment to the National Ear, Nose and Throat Hospital.

June 10, 2014 3:08 PM GMT+7

The loan is provided by the Government of the Republic of Korea (RoK) through its Economic Development Co-operation Fund at an annual interest rate of 0.15% over 35 years, including a 10 year grace period.

The agreement is part of a $1.2 billion framework agreement for the 2012–2015 period signed previously between the two countries.

The money will contribute to improving sanitation, treatment and prevention of ear, nose and throat diseases.

From 2008 to 2011, the Korean Government pledged to offer $1 billion to Viet Nam for projects in such fields as transportation, health care, water supply, and vocational training. Major projects included the Vam Cong Bridge, the Vinh Thinh Bridge, the Thua Thien–Hue General Hospital, and the Thien Tan water supply project.

Head of the MoF’s Department of Debt Management and External Finance Nguyen Thanh Do said that many projects financed by RoK preferential loans have been put into use and now effectively contribute to Viet Nam’s socioeconomic development.

By Vien Nhu