The Japan International Cooperation Agency (JICA) disbursed nearly JPY60 billion for transport projects in Vietnam as of Dec 30, accounting for 51.6% of the sector’s total pledged loan for Vietnam in the 2013 fiscal year ending March 2014. The JICA will disburse the remainder from now to March 2014, New Chief Representative of the JICA Mutsuya Mori was quoted by the An Ninh Thu Do newspaper as saying. The lender will work with Vietnam’s Ministry of Finance to amend loan agreements for major transport projects and agreed to add funding to others in Vietnam. The transport sector continues to get the most of official development assistance (ODA) from Japan in 2013. By end-2013, a total of 18 transport projects totaling $2.34 billion funded by Japanese ODA have been completed and started operation. Vietnam spends 10% of its gross domestic product (GDP) on infrastructure development projects annually but its infrastructure remains weak. (anninhthudo Jan 14)
