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
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