Japan grants 25.8 billion Yen in development aid to Vietnam

Japan will provide 25.822 billion Yen in official development assistance to help Vietnam develop its socio-economic infrastructure and protect the environment.

Minister of Planning and Investment Vo Hong Phuc and Japanese Ambassador Sakaba Mitsuo signed exchange notes on the preferential credit in Hanoi on March 2.

The money is part of an aid package the Japanese Government committed to Vietnam in the 2009 fiscal year, bringing its total ODA to Vietnam to 145.613 billion Yen – a record figure.

The aid will be used to build a terminal at Noi Bai International Airport, a road linking Nhat Tan bridge and Noi Bai airport, and Can Tho bridge, maintain National Highway No.1 (Phase III) and develop infrastructure at Hoa Lac High-tech Park.

Representatives of the Ministry of Finance and the Japan International Cooperation Agency (JICA) will sign credit agreements on these projects in Hanoi later this month.

Japan is Vietnam’s largest aid donor, having committed a total of 1,557 billion Yen since it resumed its ODA to Vietnam in 1992.

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