EU commits €542 million for VN in 2014

VGP – EU Ambassador to Viet Nam Franz Jessen revealed that the EU commits to financing €542 million (US$736.7 million) for Viet Nam in 2014.

June 26, 2014 11:15 AM GMT+7

Photo: VGP/Huy Thang

A press conference was held on June 25 to announce the Report on the Official Development Assistance (ODA) cooperative activities between the EU and Viet Nam.

The EU, the largest ODA provider for Viet Nam, disbursed €456 million (or US$619.8 million) in 2013.

Since the global economic crisis in 2007, the EU has still maintained the aid for Viet Nam, which has proved the importance of its relations with Viet Nam.

The bilateral support of the EU and its members for Viet Nam over the past 20 years has helped the nation achieve the poverty reduction goal, promote socio-economic development and deeply integrate into the regional and international economy, said Franz Jessen.

The EU has strongly supported Viet Nam’s development, trade ambitions and international commitments by maintaining its aid for the following years, signing the Free Trade Agreement at the end of 2014 and enhancing political relationship, he confirmed.

The EU Blue Book 2014 was introduced at the press conference, summarizing changes in new policies, aid and cooperative areas between the EU and Viet Nam.

By Thuy Dung