Japan pledges $1.64 billion ODA to Vietnam

TN News

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Vietnam and Japan Friday signed an exchange of notes concerning the official development assistance (ODA) worth 136.45 billion yen (US$1.64 billion) that Japan pledged to eight different projects in Vietnam.

Under the compact signed by Vietnamese Minister of Planning and Investment Bui Quang Vinh and Japanese ambassador to Vietnam Yasuaki Tanizaki, the loan was designated for the second half of the 2011 financial year, Vietnam News Agency reported.

The benefited projects will include poverty alleviation, the improvement of water environment in the southern province Binh Duong, forest restoration and management, and the scientific and technological town of Hoa Lac in Hanoi.

Four infrastructure projects also among the beneficiaries are an international terminal at Hanoi-based Noi Bai Airport, urban metro system in Ho Chi Minh City, and a road system between Hanoi and the northern province of Thai Nguyen.

According to the news agency, the latest loan has brought the total ODA that Japan has pledged to Vietnam for the fiscal year has reached 208.09 billion yen ($2.5 billion) - the highest-ever since Japan resumed its ODA to the country in 1992. 

So far Japan has pledged a total of 1.92 trillion yen ($22.3 billion) in ODA to Vietnam.

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