Vietnam’s Minister of Finance Vuong Dinh Hue has proposed the Japanese Ministry of Finance increasing the credit for the 10th Poverty Reduction Support Credit (PRSC 10) from ¥ 3.5 billion to ¥10 billion in the second phase of the 2011 fiscal year.
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Vietnam’s Minister of Finance Vuong Dinh Hue (R) and Japan’s Minister of Finance Jun Azumi, Tokyo, October 31
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Minister Vuong Dinh Hue made the proposal at his working session with Japanese Minister of Finance Jun Azumi in Tokyo on October 31.
Mr. Hue highly valued Japan’s cooperation and assistance to Vietnam. Japan is curently the biggest Official Development Assistance (ODA) provider for Vietnam. Projects sponsored by Japan have actively contributed to Vietnam’s socio-economic development.
The Vietnamese Minister said he hoped that Japan will provide new loan in form of budget support or increasing aid for the PRSC or the Support Program to Respond to Climate Change in Vietnam (SP-RCC) with the total value of ¥ 30 billion.
Besides, the Vietnamese side expects to gain Japan’s support for its application of Public-Private Partnership model as well as modernization of financial system and customs sector.
Minister Azumi revealed that Japan would continue to increase ODA sources and launch new forms of investment in Vietnam.