Signing Ceremony of EDCF Loan Agreements

Signing Ceremony of EDCF Loan Agreements 20/03/2015 02:24:00 2294

Font-size:A- A+
Contrast:Increase Decrease

19 March 2015, Hanoi: Deputy Minister of Finance Mr. Truong Chi Trung on behalf of the Government of Vietnam and Deputy President of Korea Eximbank (KEXIM) Mr. Yin Seong Hyeog signed 2 Loan Agreements on “Thien Tan Water Supply Project Phase II: Supplementary Loan” and “Support Program to Respond to Climate Change for Fiscal Year 2014” with the total value of 25 million US dollars. Representatives of the Ministry of Planning and Investment, Ministry of Foreign Affairs, Ministry of Natural Resources and Environments and the People’s Council of Dong Nai Province also attended the ceremony.

image

Photo: Deputy Minister of Finance Mr. Truong Chi Trung delivering his speech at the meeting

These two Agreements are specific Agreements following 09 previous Agreements under the Framework Agreement of 1.2 billion US dollars for 2012-2015. The total value of concessional loans of the Government of Korea to Vietnam through the Economic Development Cooperation Fund (EDCF) has reached 537 million US dollars.

Previously, during 2008-2011, Korea had supported Vietnam with more than one billion US dollars in various infrastructure projects such as transportation, healthcare, water supply, vocational training… Many projects have been completed and brought to use efficiently, contributing to the socio-economic development of Vietnam.

image

Photo: Overview of the meeting


Speaking at the ceremony, Deputy Minister Trung expressed his appreciation of the cooperation and support by EDCF to the development of infrastructure of Vietnam during the past years and expectation that the close cooperation relationship beteen the Vietnam and Korea will continue to thrive in the future.

He said that water supply and responding to climate change are prioritized ODA uses by the Government of Vietnam. During the past few years, KEXIM has provided support to many projects relating to water supply and climate change. These projects play important roles to improve the lives of people in many localities, helping Vietnam to achieve the Milenium Goals. Deputy Minister Trung hoped that KEXIM will continue its support to Vietnam and promised that the Ministry of Finance will do its best to make good use of the financing.

image

Photo: Deputy Minister Mr. Truong Chi Trung and Deputy President of KEXIM signing the Agreements

Deputy President of KEXIM confirmed that ECDF is willing to cooperate and support infrastructure development projects in Vietnam and wished the relationship between Vietnam and Korea to develop further in the future.

HT

(Translaiton: T.Tien)