Japan pledges steady ODA funds for Vietnam

The Japanese government has pledged not to cut Official Development Assistance (ODA) fund for Vietnam despite the recent earthquake and tsunami in Japan

The Japanese government has pledged not to cut Official Development Assistance (ODA) fund for Vietnam despite the recent earthquake and tsunami in Japan, the local newspaper Dautu quoted Nguyen Xuan Tien, Deputy Director General of Foreign Economic Relations Department on June 13, ahead tomorrow grants exchange diplomatic note.

The diplomatic note worth ¥58 billion mainly focuses on the North-South highway projects, Tien said.

Vietnam is estimated to have disbursed $844 million funds provided in forms of the official development assistance (ODA), including $767 million borrowing capital and $77 million non-refundable grants in the first five months of this year, citing the Ministry of Industry and Trade source.

Earlier, on December, foreign donors at the Consultative Group Meeting (CG) held in Hanoi pledged Vietnam $7.9 billion for this year.

The largest donor, the World Bank, pledged almost 2.6 billion dollars. Japan promised 1.76 billion dollars, while the Asian Development Bank pledged 1.5 billion dollars. – Stoxplus.com

Tags: ODA funds