Japan to grant Vietnam $1bn in aid for power, traffic development   Vo Van Kiet Boulevard, funded by ODA loans from Japan, is seen in this photo taken in Ho Chi Minh City. Tuoi Tre Vietnam will receive US$1 billion from Japan in official development assistance (ODA) loans to fund seven power, infrastructure, education, and environment projects. The diplomatic note on the grant was signed by Vietnamese Minister of Planning and Investment Bui Quang Vinh and Japanese Ambassador to Vietnam Hiroshi Fukada in Hanoi on Tuesday. The loan, which is meant for the 2014 fiscal year, is ready for disbursement within 2015, according to the agreement. The 2014 fiscal year began on April 1 last year and concluded on March 31 this year. The ODA grant is intended to help Vietnam implement seven projects, including the construction of the 9.87 billion yen ($82.5 million) Thai Binh 1 thermal power plant in the northern province of Thai Binh and a 29.78 billion yen ($249 million) power distribution network. About 14.91 billion yen and 1.06 billion yen from the grant will be earmarked for two power supply systems, in the southern province of Dong Nai and the northern city of Ha Long, respectively. A project to build the north-to-south expressway part that connects Ben Luc District in the southern province of Long An and Long Thanh District in Dong Nai will get funding worth 31.32 billion yen from the ODA loan. Another 15 billion yen will be granted to stage five of the national climate change resilience program, whereas 10.45 billion yen will be used to improve the training and scientific research ability of Can Tho University, located in the eponymous city in the Mekong Delta. Japan has provided Vietnam with ODA loans for the past 20 years and the latest grant proves that the assistance is not only meant for traffic infrastructure development but also for other fields such as education, Ambassador Fukada said at the signing ceremony. Minister Vinh appreciated Japan’s support over the last two decades, saying the Japanese ODA has contributed greatly to developing infrastructure in Vietnam as well as boosting its growth. Vietnam respects the aid and hopes to receive more ODA from the Japanese government in the future, the minister said. The Southeast Asian country and Japan are slated to work on the list of projects that will be funded by Japanese official assistance for the 2015 fiscal year during Prime Minister Nguyen Tan Dung’s visit to the East Asian country in July, according to the Vietnamese government’s website. Japan is Vietnam’s largest ODA provider. The East Asian country has granted more than 2 billion yen in ODA loans to Vietnam since 1992. Forty-three percent of the grants are earmarked for traffic infrastructure development, while environment and healthcare projects receive 15 percent of the total loans. (1 billion yen = $8.36 million) TUOI TRE NEWS