The Australian government has pledged to provide AUD119.8 ($105 million) in official development assistance (ODA) for Vietnam in the 2010-2011 fiscal year. The credit will go to human resources training, infrastructure and institutional development projects in Vietnam, the state-run Vietnam News Agency said. Of the sum, $28.5 million will be used to support major transport projects and regional road building to connect poor rural areas to key regional transport and economic corridors. The Australian government will also use part of the sum to provide 225 post-graduate scholarships for Vietnamese students as committed by Australian Prime Minister Kevin Rudd during Party Chief Nong Duc Manh's visit to Australia last September, the agency added, giving no details about total capital of the scholarships. The funding will back ongoing support for second phase of the Beyond WTO Program which will bolster Vietnam's effective integration into the global economy and the Central Mekong Delta Connectivity Project to create economic and social benefits for the densely populated delta. The funds is expected help Vietnam improve the living conditions of the poor, health system, disaster prevention and cross-border and regional threat management. Vietnam was the fifth biggest recipient of ODA from Australia last year with some $93 million. As of end-December, Australia companies invested $1.2 billion in 231 projects in Vietnam, ranking 20th among the investors making direct investment in the country.
