Japan, Vietnam Sign Loan for Post-pandemic Recovery, Infrastructure Projects

Vietnam's Deputy Minister of Finance Vo Thanh Hung and Chief Representative of JICA Vietnam Sugano Yuichi signed three loan agreements worth nearly JPY 61 billion (US $422 million) on June 4 in Hanoi.
July 08, 2023 | 15:15

The Japan International Cooperation Agency (JICA) on Tuesday signed three loan agreements with the Government of Việt Nam to provide an Official Development Assistance (ODA) loan of up to JPY 60.983 billion (US $422 million) for the country’s post-COVID recovery and key infrastructure projects.

According to VNS, most of the budget for the General Budget Support Programme focussed on the economic recovery and development of m Post-COVID-19. The Public Transport Infrastructure Improvement Project in the southern province of Binh Duong and the Infrastructure and Agriculture Upgrade in the Southern province of Lam Dong will also receive part of the fund.

Japan, Vietnam sign 61 billion yen loan for post-pandemic recovery, infrastructure projects
The signing of the loan agreements marks another milestone to celebrate the 50th anniversary of diplomatic relations between Japan and Vietnam (Photo: JICA Vietnam).

The Medium and Long-term Vision for Vietnam-Japan Agricultural Cooperation (Phase 1: 2015-2019, Phase 2: 2020-2024) has been established to strengthen food value chains in Vietnam. The vision stipulates specific initiatives to promote the development of infrastructure related to agriculture, and Lam Dong Province is one of the model areas in the vision.

Upgrading Infrastructure for Agricultural Development in Lam Dong Province (Phase 1) has been formulated to initially transform the agricultural sector in Lam Dong province through the improvement of infrastructure including road network (for enhancing the transportation of agricultural products), irrigation system and Flower Collection Center for the overall goal of improving the income of farmers and industrialization of the agricultural sector. This project will contribute to the achievement of Sustainable Development Goals - Goal 2 (Zero Hunger) and Goal 12 (Responsible Consumption and Production).

The project is a significant model for agricultural cooperation between Vietnam and Japan, JICA noted.

Japan, Vietnam Sign Loan for Post-pandemic Recovery, Infrastructure Projects
On June 22-23, JICA collaborated with Enterprise Development Department - Ministry of Planning and Investment to organize training course on business administration for corporate directors (CEOs) in Hanoi (Photo: JICA Vietnam).
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