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Viet Nam, S.Korea sign $1.2b loan deal

Update: December, 22/2012 - 09:57

HA NOI (VNS)— South Korea will provide a US$1.2 billion preferential loan for Viet Nam's development in 2012–2015.

An agreement to this effect was signed by Vietnamese Minister of Planning and Investment Bui Quang Vinh and RoK ambassador to Viet Nam Ha Chan Ho in Ha Noi yesterday

The loan will be used to support the implementation of projects and programmes in high priority areas that include transport, water supply and drainage, renewable energy, information technology, healthcare, human resource development, agriculture and rural development.

Between 2008 and 2011, the Korea Government provided Viet Nam with $1 billion in preferential loans, the majority of which were channeled into 28 projects in the country. — VNS

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