Vietnam to receive US$1.6billion development loan from Japan

Japan International Cooperation Agency has agreed to a development loan of US$1.6billion for eight infrastructure and technology projects, announced Nguyen Cong Hiep, deputy minister of Finance.

An agreement was signed by Motonori Tsuno, head of the Japan International Cooperation Agency in Vietnam and Nguyen Cong Hiep, deputy minister of Finance.

The development fund will be invested in major infrastructure and technology projects across Vietnam, including some important transport projects.

The new National Highway No. 3; the Hanoi-Thai Nguyen road network; the T2 Terminal in Noi Bai International Airport; the Ben Thanh-Tien River route for the urban railway development in Ho Chi Minh City, are projects under the new development fund.

Part of the fund money will be spent on a poverty reduction programme; development of provincial and regional hospitals; the Hoa Lac Science and Technology City; sustainable management of protective forests;  and improvement of water resources in the southern province of Binh Duong.

Japan is currently the largest international donor nation in Vietnam, said deputy minister Hiep.

By H.My – Translated by Thanh Huong

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