Japan grants JPY61 billion ODA loans to three Vietnam projects
VOV.VN - The Japan International Cooperation Agency (JICA) will provide ODA loans worth JPY60,983 million, equivalent to nearly VND11,000 billion, to implement three projects in Vietnam.
Three documents to this effect were signed in Hanoi on July 4 between representatives of JICA and the Vietnamese government.
Of the total sum, JPY50 billion will go to the post-pandemic socio-economic recovery and development programme which has already bene approved by the National Assembly.
Statistics show the Vietnamese economy expanded by 3.72% in the first half of this year. According to JICA, the low growth rate shows the importance and urgency of the Government’s supportive policies to promote public spending and stimulate the economy. This ODA loan will provide Vietnam with capital to implement the National Assembly passed programme.
The second loan worth JPY6,244 million is for a public transport infrastructure improvement project in Binh Duong, an industrial hub and a gateway to Ho Chi Minh City – the country’s largest economic and financial hub. This project will develop a rapid bus system connecting Binh Duong - Ho Chi Minh City - Dong Nai, creating a premise for the development of a consistent traffic system along the Metro line No1 of Ho Chi Minh City.
Finally, a loan of JPY4,7 39 million will be used to build infrastructure, including a road network, an irrigation system and a flower trading centre, in the Central Highland province of Lam Dong to support its agricultural production.
The signing of three ODA loan agreements marks an important milestone towards the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan this year.