Saudi Arabia will provide more than 37 million USD in official development assistance (ODA) for two road projects in the central provinces of Phu Yen and Quang Tri.

The announcement was made at a meeting between Finance Minister Vuong Dinh Hue and the Saudi Arabian Ambassador Salah Ahmed Sarhan, to reach an agreement on the loan needed to fund both projects in Hanoi on May 10.

The project will link up the three communes of Xuan Phuoc,Ky Lo and Phu Hai in Phu Yen province and will cost 16 million USD, of which 14.5 million USD will come from Saudi Arabia’s ODA fund.

The remaining 22.6 million USD will go towards a 38.4 million USD project to build roads in Thach Kim, Hien Hoa, Lam Thuy and Ben Quan communes, in Quang Tri province. The extra funding needed will be provided by Vietnam.

At the meeting, Minister Hue praised Saudi Arabia for considering providing Vietnam with the necessary funding.

He also asked Saudi Arabia to increase its investment and funding for Vietnam, with priority given to the infrastructure in disadvantaged provinces and the health and education sectors.

Earlier, in November 2011, Vietnam and Saudi Arabia signed two agreements on loans worth a total 25.5 million USD to provide medical equipment for a general hospital and a health centre in the northern mountainous province of Bac Kan and equipment for a vocational training centre in central Ninh Thuan province./.