RoK to provide 1.5 bln USD in ODA for Vietnam
At the event (Source: VNA)
The Republic of Korea (RoK) will provide 1.5 billion USD in
official development assistance (ODA) for Vietnam for 2016-2020 via the Korea
Economic Development Cooperation Fund (EDCF).
agreement to this effect between the two governments was signed by Minister of
Planning and Investment Nguyen Chi Dung and RoK Ambassador to Vietnam Lee Hyuk
in Hanoi on November 8.
articles, the agreement specifies lending conditions, disbursement, and Vietnam’s
incentives for projects using the RoK-funded ODA. The sum will be reserved for
projects chosen by the two governments.
the signing ceremony, Minister Dung said the RoK’s ODA has been used in important
and priority fields in Vietnam over the past more than two decades.
lauded the RoK government for considering Vietnam a top priority partner in ODA
Lee vowed to work closely with Vietnamese agencies to realise the agreement
which creates a legal framework for the process.
the RoK has offered 2.7 billion USD in ODA to Vietnam to carry out nearly 60
projects, mostly in transport infrastructure, urban development, health care, and
water supply and drainage.-VNA