RoK bank finances wastewater disposal project
The Ministry of Finance and the Export-Import Bank of the Republic of Korea (Korea Eximbank) on July 26 signed a US$23.117 million loan agreement for a project to improve a wastewater disposal system in Hung Yen province.
Through the RoK Economic Development Cooperation Fund (EDCF), the payback period of the Official Development Assistance (ODA) loan is 40 years including 10 years of grace. The annual interest rate is 0.1%.
The agreement aims to concretise the US$1.2 billion framework agreement for the 2012-2015 period inked by the two Governments.
Earlier, the Republic of Korea (RoK) pledged a US$1 billion loan for Vietnam to execute projects in the fields of health care, water supply, vocational training and transport in the southern coastal corridor and Thua Thien–Hue General Hospital.