Vietnam’s Ministry of Finance and the Kuwait Fund have signed a loan agreement worth over 13.3 million USD for a multi-target development project for ethnic minority-inhabited areas in poor communes of Xin Man district, northern mountainous Ha Giang province.

At the signing ceremony (Photo: VNA)

Speaking at the signing ceremony in Hanoi on May 7, Deputy Minister of Finance Tran Xuan Ha said the project is expected to improve living standards of local ethnic minority people in Ha Giang’s Xin Man district and the northern mountainous region in general.

Ha also expressed his hope that the Kuwait Fund will provide more preferential loans for Vietnam, especially for disadvantaged localities.

Deputy Director General of the Kuwait Fund Hesham Al-Waqayan said this is an important and meaningful project to help Ha Giang’s ethnic minority inhabitants better their lives.

The fund is willing to give more support for Vietnam to carry out similar projects in the future, he promised.

The Kuwait Fund has so far provided loans worth over 182 million USD for Vietnam to carry out 15 projects, focusing on building infrastructure in rural areas and small irrigation works in disadvantaged provinces.

VNF/VNA