Switzerland Pledges $92M ODA for Vietnam in 2017-2020

The Swiss government has committed to providing CHF90 million ($92 million) worth of official development assistance (ODA) for Vietnam over the 2017-2020 period to help the country carry out prioritized projects. The commitment is part of the Vietnam-Switzerland development cooperation strategy for the period, which was announced by Deputy Minister of Planning and Investment Nguyen The Phuong and the Swiss Minister of State for Economic Affairs Marie-Gabrielle Ineichen Fleisch in Hanoi on Oct 11. The funding will be poured into three main areas – supporting the promotion of institution and economic policies, assisting the building of a competitive and effective private economic sector, and supporting the sustainable urban development and climate change response. At the event, Marie-Gabrielle Ineichen Fleisch said that Switzerland will continue helping Vietnam pursue comprehensive and sustainable growth and improve the living conditions of locals. Switzerland hopes that the long-term cooperation with Vietnam will continue to be expanded, she said, affirming that Switzerland is always a trustworthy partner of Vietnam with commitments to assisting the Southeast Asian country to thrive in the future. Since 1992, Switzerland has provided about $470 million in ODA for Vietnam’s socioeconomic development and reform agenda, most of which is grant. Cooperation between the Swiss State Secretariat for Economic Affairs and Vietnam will focus on public financial management, the finance sector’s growth, small and medium enterprises’ access to capital, and green production. (VietnamPlus Oct 11, nhandan.com.vn Oct 11)