Japan grants ¥25.8 billion in ODA to Vietnam

The Japanese government has agreed to provide Vietnam with an additional ¥25.822 billion (US$290.7 million) in official development assistance (ODA) for the fiscal year ending March 31.

Delegates attend the signing ceremony of the exchange of notes of a Japanese ODA loan of ¥25.822 billion to Vietnam in Hanoi on March 2 (Photo: VEN)

A document on the preferential credit was signed between Vietnamese Minister of Planning and Investment Vo Hong Phuc and Japanese Ambassador Sakaba Mitsuo in Hanoi on March 2.

The ODA grant will be used for five projects including a new terminal at Noi Bai International Airport; a road linking the Nhat Tan bridge with the airport; the Can Tho bridge; restoring the Can Tho-Ca Mau section of National Highway No. 1 (phase III); and developing infrastructure at Hoa Lac High-tech Park. 

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

The new grant will raise the total ODA that Japan is to provide Vietnam in the fiscal year to a record-high of ¥145.6 billion.

Since resuming its ODA to Vietnam in 1992, Japan has become Vietnam’s largest ODA provider to date, having committed a total of ¥1,557 billion.

By Anh Thu – Translated by Truc Thinh

Other news