Japan commits more ODA to Vietnam

VNS - HA NOI – Japan has committed over 136 billion JPY in official development assistance (ODA) loans to Vietnam for the second phase of fiscal year 2011.

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A note to this effect was signed between the Vietnamese Minister of Planning and Investment Bui Quang Vinh and Japanese Ambassador to Vietnam Yasuaki Tanizaki, in Hanoi on Mar. 30.

The credit will fund projects on poverty reduction, developing Hoa Lac hi-tech park, building international terminal T2 at Noi Bai international airport, HCM City urban railway linking Ben Thanh market and Suoi Tien park, National Highway 3 from Hanoi to Thai Nguyen, the second-phase improvement of Nam Binh Duong water environment, restoration and sustainable management of riverhead protective forests, and the second-phase development of regional and provincial hospitals.

Minister Vinh said the ODA provided by the Japanese Government has stepped up the development of Vietnam's socio-economic infrastructure, promoting economic growth, poverty reduction and environmental protection in the country.

Tanizaki said he believes Vietnam will use this ODA source effectively.

The sum brought the total of Japan's ODA to Vietnam to more than 208 billion JPY in the fiscal year 2011, the highest level since Japan resumed ODA relations with Vietnam 20 years ago, manifesting its high appreciation of the strategic partnership with the Southeast Asian country.-VNA