(VOV) - Vietnam’s Ministry of Finance (MoF) signed eight loan agreements valued at US$1.6 billion from the Japan International Cooperation Agency (JICA) in Hanoi on March 30.
Japan supports Vietnam’s infrastructure development
The agreements, signed by MoF Deputy Minister Nguyen Cong Nghiep and Head of the JICA office in Vietnam, Motonori Tsuno, state that the money will be invested in major projects across Vietnam, including important transportation projects.
They are the new national Highway No. 3 and the regional road network (Hanoi-Thai Nguyen section); the T2 Terminal at Noi Bai International Airport, and the Ben Thanh-Tien River route of the HCM City urban railway.
The rest of the money will be spent on a credit programme for poverty reduction, and projects for the development of provincial and regional hospitals, and the Hoa Lac Science and Technology City, sustainable management of protective forests, and improvement of the water resources in the southern province of Binh Duong.
2012 marks the 20 th consecutive year the Japanese Government has granted official development assistance (ODA) to Vietnam, with a total of US$21 billion in capital being committed to date.