The Ministry of Finance and the Export-Import Bank of the Republic of Korea (Korea Eximbank) signed a 23.117 million USD loan agreement on July 26 for a project to improve the system of wastewater disposal in the northern province of Hung Yen.

Through the RoK Economic Development Cooperation Fund (EDCF), the payback period of the Official Development Assistance (ODA) loan is 40 years including 10 years of grace. The annual interest rate is 0.1 percent.

The agreement aims to concretise the 1.2 billion USD framework agreement for the 2012-2015 period inked by the two Governments.

Earlier, the Republic of Korea (RoK) pledged to provide a 1 billion USD loan for Vietnam to execute projects in the fields of health, water supply, vocational training and transport in the southern coastal corridor and Thua Thien–Hue General Hospital.

Using RoK capital, various works have been completed and put into operation to boost the country’s socio-economic development.-VNA