VN, RoK sign two ODA loan agreements

VGP - The Ministry of Finance and the Export-Import Bank of the Republic of Korea (RoK) have signed two official development assistance (ODA) loan agreements worth US$162 million through the Economic Development Cooperation Fund (EDCF) in Ha Noi.

July 11, 2014 7:05 PM GMT+7

The loans with an annual interest rate of 0.1% and a payment duration of 40 years will be poured into building Hung Ha bridge that connects the two northern provinces of Hung Yen and Ha Nam and upgrading the Ha Noi University of Pharmacy into a national university of regional standards.

The loans are part of a framework agreement worth US$1.2 billion for 2011 and 2015, following the seven agreements signed previously, bringing the Korean Government’s total soft loans for Viet Nam to over US$512 million.

From 2008-2011, the RoK provided some $1 billion for Viet Nam to implement projects on transport, health, and vocational training./.

By Ngoc Van