ROK to provide US$1.5 billion ODA for Vietnam in 2016-2020
VOV.VN - On behalf of their two governments, Minister of Planning and Investment Nguyen Chi Dung, and the Republic of Korea Ambassador to Vietnam Lee Hyuk, signed a framework arrangement concerning loans from the Economic Development Co-operation Fund (EDCF) for 2016-2020.
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At the signing ceremony, Mr. Dung appreciated the Korean Government’s view of Vietnam as a prioritized partner in offering ODA. The credit framework agreement is seen as the next step forward as a contribution to further boosting bilateral ties and Vietnam’s socio-economic development in the future.
ROK-funded projects' effective contributions have greatly helped Vietnam in socio-economic development, infrastructure improvement, and poverty reduction. The signing of the agreement will create a legal framework for facilitating Korean ODA provision and Vietnam- the ODA recipient. It will also lay foundations for the two sides to choose and implement projects using EDCF capital in the 2016-2020 period, said Mr. Dung.
Ambassador Lee Hyuk in turn affirmed the Korean Government’s support for Vietnam to concretize the credit framework agreement for 2016-2020.
