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Vietnam Business » Vietnam Economic News » South Korea lend Vietnam 51 million USD

South Korea lend Vietnam 51 million USD

The Ministry of Finance on Tuesday clinched three agreements to borrow US$51 million in official development assistance (ODA) loans from South Korea to finance hospital and school projects. The pacts were signed by Deputy Minister of Finance Tran Xuan Ha and Ki-Sub Nam, vice chairman of the Export-Import Bank of Korea.

South Korea through its Economic Development Cooperation Fund (EDCF) will provide US$45 million for a hospital project in the northern province of Yen Bai and US$3 million for each of two projects for equipping vocational schools in the north-central provinces of Ha Tinh and Quang Binh.

According to the Ministry of Finance, South Korea is one of Vietnams biggest donors. Many projects funded by South Korea include National Highway 18 (Chi Linh-Bieu Nghi section), Thien Tan 1 water plant in Dong Nai Province, a vaccine production project and a solid waste treatment plant in Hai Phong City.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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