Japan maintains as biggest ODA donor for VN

VGP – Since 2009, the Japanese Government has decided to supply Việt Nam with preferential credits twice a year as the former appreciates both its strategic partnership with Việt Nam and the Vietnamese Government’s efforts to better legal environment and make full use of ODA sources.

October 26, 2009 5:16 PM GMT+7

The signing ceremony of exchange of notes of Japanese ODA loan in the first half of 2009, Hà Nội, October 26, 2009 – Photo: VGP

Minister of Planning and Investment Võ Hồng Phúc and Japanese Ambassador Sakaba Mitsuo on Monday signed an exchange of notes to provide the recipient country with a US $704-million ODA in the first half of the fiscal year 2009.

The assistance targets to back the Vietnamese Government to better the socio-economic infrastructure; protect the environment; accelerate foreign investment; and speed up economic integration.

Specifically, the credits help the Government to carry out five projects on building a byway for National Highway 1; constructing a coal-fueled thermo-electric plant and an electric line; developing small-scale infrastructure for poor households; boosting up consumption of renewable energy; and sponsoring small and medium-sized enterprises (third stage).

Việt Nam is committed to make full use of Japan’s assistance, said Mr. Võ Hồng Phúc when addressing the signing ceremony.

Ambassador Sabaka Mitsuo underlined that Việt Nam and Japan have economically strategic interests. Hence, Japan wants to expand fields of cooperation with its Vietnamese partners in the time to come.

The notes clearly stipulate framework conditions for the provision and disbursement of the ODA. On this basis, the Vietnamese Ministry of Finance and the Japan International Cooperation Agency will ink credit agreements to put the five projects into reality.

By Khánh Phương