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Nam Dinh: Loan agreement with Kuwait Fund signed

The Ministry of Finance and the Kuwait Fund signed a loan agreement for a project to upgrade the irrigation system in the northern province of Nam Dinh on March 3 in Hanoi.
The Ministry of Finance and the Kuwait Fund signed a loan agreementfor a project to upgrade the irrigation system in the northern provinceof Nam Dinh on March 3 in Hanoi.

The project has a totalinvestment capital of about 19 million USD, with 13.6 million USD inloans. It will focus on upgrading irrigation infrastructure of two majorchannels in the coastal district of Hai Hau.

Addressing thesigning ceremony, Deputy Finance Minister Truong Chi Trung said theKuwait Fund has provided Vietnam with 147.9 million USD to date in loansfor 12 projects.

These loans, used for infrastructure buildingprojects in rural provinces, have contributed to the localities’economic development and poverty reduction objectives, he added.

Many projects have yielded effective results, such as the Dau Tiengand Van Dinh irrigation systems and the Dac Ta-Ngoc Linh road.-VNA
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