Business

Japan provides 25 billion JPY in ODA for Vietnam

The Japanese government will provide official development assistance (ODA) loans worth 25 billion JPY (244 million USD) for the 2013 fiscal year.
The Japanese government will provide official development assistance(ODA) loans worth 25 billion JPY (244 million USD) for the 2013 fiscalyear.

A diplomatic note of exchange on the provision was signedin Hanoi on March 5 by Minister of Planning and Investment Bui QuangVinh and Japanese Ambassador to Vietnam Hiroshi Fukada.

Theamount will be allocated to two key projects, with 10 billion JPY goingto the Support Programme to Respond to Climate Change (SP-RCC) and 15billion JPY to the second Economic Management and Competitiveness Creditfor Vietnam (EMCC 2).

Two detailed agreements for the loans areexpected to be inked on March 6 by representatives of the FinanceMinistry and the Japan International Cooperation Agency (JICA).

TheODA source is part of the programme to assist Vietnam’s socialinfrastructure development and increase its foreign investmentattraction and international integration, Ambassador Hiroshi Fukadasaid.

Vietnam pledges to use Japan’s ODA loan in a transparent, purposed and effective manner, Minister Vinh said.-VNA
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