RoK bank approves US$77 million loan for Vietnam’s irrigation

Friday, 2016-11-25 11:55:03
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The agreement is part of the framework credit agreement worth US$1.2 billion between Vietnam and the RoK for 2012-2015. (Credit: VNA)
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NDO/VNA – The Export -Import Bank of the Republic of Korea (RoK) has approved a loan of US$76.93 million for Vietnam to upgrade the irrigation systems in the Len and Hoang Mai rivers in the central region.

The sum is expected to help the Vietnamese side to enhance control of salinity, upgrade the eco environment and adapt to climate change in benefiting localities.

A document to this effect was signed by representatives from the Ministry of Finance and the RoK bank in Hanoi on November 24.

The agreement is part of the framework credit agreement worth US$1.2 billion between Vietnam and the RoK for 2012-2015.

In the period, numerous projects funded by the RoK have been carried out, including the construction of Thinh Long bridge in northern Nam Dinh province and leading roads to Vam Cong bridge in the Mekong Delta.

The RoK funding also went to the upgrade of the Hanoi Pharmacy University to a regionally-recognised institution by 2020, the supply of medical equipment for several general hospitals in southern An Giang and Tra Vinh provinces.

Between 2008 and 2011, the RoK Government provided Vietnam with US$1 billion in preferential loans, the majority of which were channeled into 28 projects in the country.