Japan provides $422M ODA loan to Vietnam

By Dat Nguyen July 4, 2023 | 09:44 pm PT

An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The Japan International Cooperation Agency has signed an official development assistance agreement with the Vietnamese government to provide a loan of 60.98 billion yen (US$422 million) for three projects.

The majority of the soft loan, 50 billion yen, to be given under a quick disbursement mechanism, will be for a post-Covid support program for recovery and development.

The rest will be used for a public transport infrastructure improvement project in Binh Duong Province and agricultural infrastructure upgrades in Lam Dong Province.

Binh Duong will develop a bus system to connect with Ho Chi Minh City and Dong Nai Province.

In Lam Dong, the loan will help increase the productivity of major crops and improve basic agricultural infrastructure such as roads and irrigation facilities.