Seven ODA loan agreements totally valued around US $1.3 billion were signed by Vietnamese Deputy Finance Minister Tran Xuan Ha and Vice President of the Japan International Cooperation Agency (JICA) Oshima Kenzo in Tokyo on Tuesday.
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Vietnamese Deputy Finance Minister Tran Xuan Ha (R) and JICA Vice President Oshima Kenzo sign agreements, Tokyo, November 10, 2009
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This is the ever biggest commitment made by the Government of Japan to Vietnam.
Nearly ¥64.9 billion will be used to fund five projects on sponsoring small and medium enterprises, encouraging the effective use of energy, building the Thai Binh thermoelectric plant, constructing a bypass of National Highway I, and developing infrastructure for poverty reduction,
Also in this fiscal year, the Government of Japan offers Vietnam two cash loans worth of ¥54.9 billion for poverty reduction and economic stimulation.
Deputy Minister Tran Xuan Ha asserted that, the signing of loan agreements is a step forward in realizing the strategic partnership between Vietnam and Japan.
Since 1992, the Government of Japan has pledged to offer Vietnam total ODA of over ¥1,369 billion, always being the country’s biggest bilateral ODA donor. Japan has always been the biggest ODA donor for Vietnam.
Japanese ODA-funded projects in Vietnam mainly involve in developing infrastructure such as energy, transport, seaports and telecommunications.