Vietnam has proposed the Japanese Ministry of Finance to increase official development assistance (ODA) for a poverty reduction program or climate change program, Finance Minister Vuong Dinh Hue said. Hue made the proposal at his working session with Japanese counterpart Jun Azumi in Tokyo Oct 31 within the framework of the visit to Japan by a high-ranking government delegation led by Prime Minister Nguyen Tan Dung from Oct 30 to Nov 2. Minister Hue proposed to raise the credit for the 10th Poverty Reduction Support Credit (PRSC 10) from JPY3.5 billion to JPY10 billion in the second phase of the 2011 fiscal year. Japan is also expected to provide new loan in form of budget support or increasing aid for the PRSC or the Support Program to Respond to Climate Change in Vietnam (SP-RCC) with the total value of JPY30 billion, Hue added. He also spoke highly of Japan’s cooperation and assistance to Vietnam, adding that Japan is now the biggest official development assistance (ODA) provider for Vietnam. Japan-funded projects have actively contributed to Vietnam’s socio-economic development. Besides, the Vietnamese side expects to receive Japan’s support for its application of Public-Private Partnership model as well as modernization of financial system and customs sector. Minister Azumi revealed that Japan would continue to increase ODA sources and launch new forms of investment in Vietnam next years. The year 2011 marks the 19th consecutive year that the Japanese government has funded ODA to Vietnam. Japan is Vietnam’s largest provider of ODA, with a total commitment of over JPY1.45 trillion ($15 billion). (news.gov.vn Nov 1, cafef.vn Nov 1)
