Germany Pledges to Lend Vietnam EUR71M for Development Projects

The German Ministry of Economic Co-operation and Development has pledged to provide a EUR71.2 million loan to help Vietnam carry out development projects to become an industrialized country.  The ministry made the statement at a development cooperation dialogue between Germany and Vietnam in Bonn on July 25. The funding will focus on environment, energy and vocational training, Minister of Economic Co-operation and Development Dirk Niebel said. Ambassador Jutta Frasch earlier said that Germany is likely to provide EUR289 million in official development assistance (ODA) for Vietnam in the next two years, equal to the figure in 2012-2013. Germany has been a major ODA provider for Vietnam over the years, having provided more than EUR1 billion in total to Vietnam’s socio-economic development projects by end-2012. The European nation is willing to increase its development aid to Vietnam and help the Southeast Asian nation in finance, science and technology, Minister of Economics and Technology Philipp Roesler earlier said. (Thoi Bao Kinh Te – Economic Times Jul 29 p3, Giao Thong Van Tai – Transport Jul 28, NDHMoney Jul 27)