Vietnam, Japan sign ODA agreements

Vietnam, Japan sign ODA agreements

The Ministry of Finance and Japan International Cooperation Agency (JICA), on January 24 in Hanoi, signed three agreements on Japan’s Official Development Assistance (ODA) for projects under the 2010 fiscal year’s first commitment.

These projects included the 9th Poverty Reduction Support Credit (PRSC 9), additional loans for the Nhat Tan Bridge II project, and additional loans for the Nghi Son Coal-fired Power Plant II project.

They were worth 58.18 billion JPY. One of them was under the poverty reduction program and other two were for infrastructure development, part of traffic and energy building.

Japan remained the largest bilateral ODA provider to Vietnam for the past 19 years, with an engaged capital by 1,450 billion JPY (US$15 billion). This mostly focused on infrastructure development, such as the Pha Lai Coal-fired Power Plant, Phu My Power Plant, Ham Thuan-Da Mi Power Plant, National Road 10, National Road 18, Binh Bridge, Hai Phong Port, Tan Son Nhat Terminal International Airport, Noi Bai Terminal International Airport and East-West Avenue.

These projects contributed greatly to Vietnam’s socio-economic development.

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