Vietnam agrees Kuwait Fund loan for coastal infrastructure developmentWednesday, December 20,2017
AsemconnectVietnam - The Ministry of Finance signed an agreement with the Kuwait Fund for Arab Economic Development (KFAED) on December 19 to borrow more than US$9 million (VND212 billion) for a project to develop coastal infrastructure in response to the effects of climate change in Thai Binh Province.
He affirmed that Vietnam is committed to using the loan effectively.
Hesham Al-Waqayan, Vice Director General of KFAED, said he hopes that the project will contribute to improving local living standards in response to climate change.
He declared that the Fund is willing to finance development projects in Vietnam.
Agreements on a range of projects are being negotiated between the KFAED and Vietnam, including one in Xin Man district, northern Ha Giang Province with the aim of enhancing the quality of local people's lives, said Mr Al-Waqayan.
The Fund has provided loans totaling nearly US$169 million (VND3,845 billion) for 14 projects in Vietnam, mainly in rural infrastructure like small irrigation and transportation projects in poor provinces. To date, many projects have been successfully come into operation such as the Dau Tieng and Dan Dinh irrigation projects, and the Dac Ta-Ngoc Linh and Phu Thong-Khang Ninh roads.
Hanoi welcomes Swedish investors
ASEAN Summit looks to build resilient, innovative community
Vietnam, Egypt show determination to effectively realize trade deals
Vietnam, China look for stronger trade ties
Meeting looks to increase Japanese presence in Mekong Delta
Myanmar State Counsellor begins official visit to Vietnam
Third wave of RoK investment begins rolling into Vietnam
Vietnamese, Taiwanese businesses seek trade opportunities
Dialogue talks Vietnam – Iran business opportunities
Myanmar State Counsellor’s Vietnam visit to tighten bilateral ties
Organising committee for World Economic Forum on ASEAN set up
Vietnam, China’s Macau ink double taxation avoidance pact
HCM City, Greece’s Edessa city seek stronger cooperation
Finance Minister to chair investment promotion conference in RoK