The Japanese government has decided to provide a preferential loan of around 704 million USD to help Vietnam develop its socio-economic infrastructure, protect the environment, attract foreign investment and integrate into the global economy.
A diplomatic note underscoring the decision was exchanged in Hanoi on October 26 by Minister of Planning and Investment Vo Hong Phuc and Japanese ambassador to Vietnam Sakaba Mitsuo.
Accordingly, the credit is expected to be injected into five programmes. They are a project to build a bypass on Highway ; a project to build a power plant in Thai Binh province; a project to develop small-scale infrastructure; a programme to produce alternative energy and a project to provide loans to small- and medium-sized enterprises.
Vietnam’s Ministry of Finance and the Japan International Cooperation Agency are expected to sign five credit agreements on the five programmes.
Japan’s ODA to Vietnam now amounts to 1,542 billion JPY (over 16.7 billion USD)./.