The French Development Agency (AFD) will provide 20.5 million EUR tourban development investment funds of Da Nang and Can Tho cities ofVietnam .
Agreements to these effects were signed in Paris onNov. 22 within the framework of the France-Vietnam high- level councilfor economic cooperation development, which is being held in Parisfrom Nov. 21-25.
Of the sum, 500,000 EUR will be non-refundable aid from the French government.
Thefinance aims to help the two Vietnamese cities implement socio-economicdevelopment goals and cope with challenges rising from urbandevelopment as well as carry out measures to fight climate change.
Speakingat the signing ceremony, AFD Director Dov Zerah said despite meetingmany difficulties from the financial crisis in France and Europe, AFDpledged not to reduce assistance to Vietnam .
VietnameseDeputy Minister of Planning and Investment Cao Viet Sinh informed theAFD about Vietnam ’s development targets and stressed that Vietnamencourages the development of the cooperation between the State andprivate sectors to mobilise all resources in the common difficultsituation and invited the French side to take part in the model.
AFD is also the first donor assisting urban development investment funds in Vietnam since 2006./.