Japan will lend Vietnam 700 million USD as the first batch of its Official Development Assistance this year, the Japan International Co-operation Agency (JICA) said on Jan.20.

The loan agreement, to be signed on Jan.24 in Hanoi , will be used to build the second phase of the Nhat Tan Bridge , the second phase of Nghi Son Thermo Power Plant and the 9th Poverty Reduction Supporting Credit.

It is part of a 1.76 billion USD commitment that Japan – the largest bilateral donor to Vietnam – offered in 2011 as it announced at the Consultative Group Meeting in Hanoi last December.

The agency also confirmed Vietnam as the most important partner of Japan in its development and support strategy in Asia .

Last year, Japan 's ODA reached over 2 billion USD, including an 500 million USD of emergency aid to help mitigate the effects of the global economic crisis./.