EU commits Euro 743 million for Vietnam in 2013

According to the annual EU Blue Book 2013 edition--a publication launched on June 18, the EU has committed Euro 743 million (US$965 million) of ODA capital for Vietnam this year.

Between 2007 and 2013, the EU has provided Euro 5.2 billion to Vietnam, of which Euro 2.25 billion was nonrefundable and Euro 2.97 billion in loan.

EU Ambassador Franz Jessen said that the EU bilateral assistance for Vietnam will contribute to accelerating the country’s policy reform in an array of areas such as legal regulations, public finance management and health.

The EU has also supported Vietnam in regional integration and strengthened cooperation with the country in sectors like energy, tourism, climate change and environment, he said.

The Blue Book also mentioned challenges that Vietnam will face amid economic slow-down and growing inequality and suggested solutions and steps to help the country overcome these ordeals.

In the Blue Book, EU stated that although it was seriously affected by the economic crisis, EU and its members will remain as the world’s largest ODA provider which accounts for more than half of the global ODA aid.

In 2012 alone, EU disbursed Euro 55.2 billion ($71.7 billion) globally, of which Euro 395 million ($513 million) was for Vietnam.

By Anh Thu – Translated by Thuy Doan

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