Yen25.82 billion of Japanese ODA signed in Hanoi

(CPV)– The Vietnam’s Ministry of Finance signed five loan agreements worth Yen25.82 billion (USD290 milllion) with the Japan International Cooperation Agency (JICA) on March 18^th, in Hanoi.

The five agreements include: Terminal 2 Construction Project in Noi Bai International Airport worth USD140 million, Noi Bai International Airport to Nhat Tan Bridge Connecting Road Construction Project worth USD73 million, Cuu Long (Can Tho) Bridge Construction Project worth USD51 million, Third National Highway No.1 Bridge Rehabilitation Project worth USD12 million, and Hoa Lac Hi-tech Park Infrastructure Development Project worth USD11 million.

Model of Terminal 2 Project in Noi Bai International Airport. Photo: JICA

Mr. Motonori Tsuno, Chief Representative of JICA Vietnam said that the new ODA loans are significant in that they will contribute to the socio-economic development of Vietnam by supporting strategically important infrastructure, such as the international gateway to Vietnam, new terminal of Noi Bai International Airport and Express-way to Hanoi.

With the loans signed in November 2009, Yen120 billion (USD1.3 billion) for six other projects, the total amount of ODA loan for Vietnam from JICA is fiscal year 2009 has reached to Yen145.6 billion (USD1.6 billion).This marks the largest-ever since Japan started ODA for Vietnam in 1992.

The Japanese Government remains the number one ODA donor to Vietnam, with a total contribution of 1,394 billion Yen over 18 years.