The Japanese government will provide official development assistance (ODA) loans worth 25 billion JPY (244 million USD) for the 2013 fiscal year.
A diplomatic note of exchange on the provision was signed in Hanoi on March 5 by Minister of Planning and Investment Bui Quang Vinh and Japanese Ambassador to Vietnam Hiroshi Fukada.
The amount will be allocated to two key projects, with 10 billion JPY going to the Support Programme to Respond to Climate Change (SP-RCC) and 15 billion JPY to the second Economic Management and Competitiveness Credit for Vietnam (EMCC 2).
Two detailed agreements for the loans are expected to be inked on March 6 by representatives of the Finance Ministry and the Japan International Cooperation Agency (JICA).
The ODA source is part of the programme to assist Vietnam’s social infrastructure development and increase its foreign investment attraction and international integration, Ambassador Hiroshi Fukada said.
Vietnam pledges to use Japan’s ODA loan in a transparent, purposed and effective manner, Minister Vinh said.-VNA