French loan to help improve infrastructure system

The Vietnamese cities of Da Nang and Can Tho will be provided with a loan of 10 million EUR each by the Agency of French Development (AFD) to improve their respective infrastructure systems.

According to a lending contract signed in the Mekong delta city of Can Tho on October 10, the two cities are to receive additional non-refundable aid worth 500,000 EUR, which aims to provide technical assistance and ensure the spending of the loan is effective. 
The loans are expected to speed up socio-economic and urban development in the two localities. 

Speaking at the signing ceremony, French Ambassador to Vietnam Jean-Noel Poirier said the contract agreement will further strengthen diplomatic ties between the two countries. 

France is now one of the largest official development assistance (ODA) providers for Vietnam, especially in infrastructure building, technology transfer and agricultural and industrial development.

VNA/VOV online