Vietnam, RoK sign two ODA loan agreements
(VOV) - Vietnam’s Ministry of Finance and the Export-Import Bank of the Republic of Korea (RoK) signed two ODA loan agreements worth US$162 million through the Economic Development Cooperation Fund (EDCF) in Hanoi on July 9.
The loans with an interest rate of 0.1% per year and payment duration of 40 years (including a grace period of 10 years) aim to implement a US$117 million project to build Hung Ha bridge and a US$45 million project to develop Hanoi University of Pharmacy into a national university of regional standards.
Under the framework agreement worth US$1.2 billion for 2012-2015, these two loan agreements are part of follow-up seven signed agreements, bringing the Korean Government’s total preferential loans for Vietnam to over US$512 million.
Earlier, in the 2008-2011 period, the RoK provided over US$1 billion in aid to Vietnam to implement projects on transport, health, and vocational training.