Kuwait Fund loans Vietnam US$ 14 million

The Kuwait Fund for Arab Economic Development has agreed to provide Vietnam with US$14 million in loans to carry out the Cha To – Muong Tung road construction project in Dien Bien province.

An agreement to this effect was signed in Hanoi on March 12 by Deputy Finance Minister Tran Xuan Ha and Kuwait Fund Deputy Director General Hesham Al-Waqayan.

To date, Kuwait has advanced Vietnam a total of 34 million Kuwait dinar (About US$124 million) for 8 rural infrastructure development projects. Many of the projects, like the Dau Tieng and Van Dinh hydro-electric power plants and the Dac Ta – Ngoc Linh highway, have been completed and put into operation.

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