Vietnam, RoK ink US$1.2 bln loan deal
The Republic of Korea (RoK) will provide a US$1.2 billion preferential loan for Vietnam’s development in 2012–2015.
An agreement to this effect was signed by Vietnamese Minister of Planning and Investment Bui Quang Vinh and RoK ambassador to Vietnam Ha Chan Ho in Hanoi on December 21.
The loan will be used to support the implementation of projects and programmes in high priority areas that include transport, water supply and drainage, renewable energy, information technology, health care, human resource development, agriculture and rural development.
Vinh said that the Vietnamese Government highly values development aid and other forms of economic cooperation provided by RoK, and will use the aid effectively.
Ho said RoK will increase cooperation with Vietnam on a larger and more comprehensive scale, with development aid going to projects that Vietnam is in need.
Between 2008 and 2011, the RoK Government provided Vietnam with US$1 billion in preferential loans, the majority of which were channeled into 28 projects in the country.