RoK gives VN $1 bil. preferential loan

The loan will help Việt Nam improve its infrastructure and allure a new wave of investors from the RoK.

With this loan package, Việt Nam becomes the RoK's biggest OAD recipient and the RoK, in its turn, ranks second in giving ODA to Việt Nam, only after Japan.

Since 2006, the RoK decided to raise its preferential credits for Việt Nam to US $100 million per year from US $20 million previously, focusing on economic infrastructure, environment, and information technology, said Minister Phúc.

Also on the signing of the agreement, Minister Võ Hồng Phúc conferred the Insignias for the Cause of Planning Sector to Mr. Yoo Yeon Chul and Mr. Kim Seung Beom, Counselor of the RoK Embassy and Chief Representative of the RoK International Cooperation Agency (KOICA) in Việt Nam respectively.

By Hải Minh