The
Japan International Cooperation Agency yesterday agreed to provide Vietnam ODA
loans worth ¥92.6 billion (US$1.18 billion) for infrastructure development.
The money will be used to build the Lach Huyen
Port in the northern city of Hai Phong, the Vietnam Space Center at the Hoa Lac
Hi-tech Park in Hanoi, the Nghi Son thermal plant in the northern province of
Thanh Hoa, and a section of the North-South expressway connecting Dong Nai and
Long An and for a program to help adapt to climate change.
The Vietnam News Agency said Lach Huyen Port
was the first ODA-funded project to be carried out under the public-private
partnership model.
The Nghi Son plant will get the largest amount
-- ¥40.33 billion. The 30-year loan for the plant has an interest rate of 1.4
percent and a grace period of 10 years.
The other projects will have a 40-year term.
VNA quoted Nagase Toshio, JICA’s deputy chief
representative in Vietnam, as saying that Japan had delivered on its commitment
to the World Bank and International Monetary Fund to provide continuous
financial assistance to Vietnam to help development and reduce poverty.
With the latest loan agreement, Japanese
lending to Vietnam this year has topped $2.4 billion.
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