News and Events > Public Media

Japan provides funds for key infrastructure projects

(Date:March 30, 2002. Source: Vietnam News)

HA NOI — The Japanese Government will provide JPY67.5 billion (about US$540 million) in loans towards the implementation of five major infrastructure projects in Viet Nam.

The credit agreement, which is part of Japan’s official development assistance (ODA), was signed here on Thursday by Japanese ambassador Ryuichiro Yamazaki and Minister of Planning and Investment Tran Xuan Gia.

The biggest portion of the loan, $182 million, will be spent on building an international terminal in Tan Son Nhat Airport in HCM City.

The second phase of the project to build the Omon Power Plant and electricity network in the Cuu Long (Mekong) Delta will receive $125 million.

A bridge over the Hong (Red) River in Ha Noi and the East-West Highway in HCM City will get $119 million and $87.4 million respectively.

A $27 million tranche will go to the third phase of building the Hai Van Tunnel in the central coastal city of Da Nang.

Ambassador Yamazaki hoped Viet Nam would use the ODA effectively and that the loan would contribute to boosting socio-economic development in the country.

He noted that Japan and Viet Nam would celebrate 30 years of diplomatic relations next year, and said the occasion offered another opportunity to step up relations in all fields.

Last financial year, Japan provided Viet Nam with JPY74.3 billion (or about $595 million) in ODA loans, marking a 5 per cent increase over 2000. — VNS

Top

---

This homepage is presented by the Consultant Team

Any further question should be forwarded to Webmaster or Consultant Team