JICA signs ODA loans for socioeconomic development

July 04, 2023 | 16:32
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The Japan International Cooperation Agency (JICA) on July 4 signed three loan agreements with the Vietnamese government of Vietnam to provide three official development assistance (ODA) loans worth up to $421 million in total over three years.

These loans are for the budget support programme for post-pandemic recovery; Binh Duong province's public transport improvement project; and an initiative for upgrading agricultural infrastructure in Lam Dong province.

JICA signs ODA loans for socioeconomic development

The signing of the loan agreements marks another milestone to celebrate the 50th anniversary of the diplomatic relations between Japan and Vietnam

The post-pandemic recovery plan aims at providing the Vietnamese government high concessional funding for the implementation of the socioeconomic recovery and development, as passed by the National Assembly in early 2022.

Though Vietnam’s economy still showed a relatively good performance during the years of the pandemic, the negative impacts of COVID-19 were tremendous as it undermined the strength and resilience of many economic and social resources, particularly for vulnerable people and workers.

In addition, as Vietnam is a very open economy, the slowdown of global growth and demand, as well as financial sector stress and high inflation in major economies, are creating great challenges for the country to protect the vulnerable groups and promote overall social development

The low GDP growth rates recorded in Q1 and H1 at 3.32 per cent and 3.72 per cent respectively suggested the importance and urgency of government interventions and public spending to stimulate the economy.

Binh Duong has seen a significant increase in population and rapid urbanization. It's Public Transport Infrastructure Improvement Project will alleviate traffic congestion and enhance connectivity among cities by improving traffic infrastructure between Binh Duong New City and Suoi Tien Terminal of the Ho Chi Minh City Urban Railway Line 1. This project will also contribute to the achievement of the Sustainable Development Goals (SDGs).

Lam Dong is endowed with favourable natural conditions for agricultural development. The province leaders have determined to develop the province as an advanced agricultural centre in the Central Highlands.

The Medium and Long-term Vision for Vietnam-Japan Agricultural Cooperation has been established to strengthen food value chains in Vietnam. The vision stipulates specific initiatives to promote development of infrastructure related to agriculture, and Lam Dong is one of the model areas in this vision.

The Project for Upgrading Infrastructure for Agricultural Development in Lam Dong Province has been formulated to initially transform the agricultural sector in Lam Dong through the improvement of infrastructure including road networks, irrigation systems, and a flower collection centre to improve the income of farmers and industrialisation of the agricultural sector.

This project will contribute to the achievement of SDGs and is a significant model for agricultural cooperation between Vietnam and Japan.

Making the most of Japan’s support Making the most of Japan’s support

The Vietnamese government is boosting public investment disbursement. Shimizu Akira, chief representative at the Vietnam Office of the Japan International Cooperation Agency, talked with VIR’s Thanh Thu about how effectively Vietnam is doing this job and how important Japan’s assistance is.

Vietnam preparing for new growth Vietnam preparing for new growth

The Vietnamese economy is bouncing back significantly. Shimizu Akira, chief representative at the Vietnam Office of the Japan International Cooperation Agency, spoke with VIR’s Thanh Tung about solutions for the government to achieve quicker economic growth.

JICA and ILO promote cooperation between Vietnam and Japan JICA and ILO promote cooperation between Vietnam and Japan

The 2023 Vietnam-Japan Human Resource Development Exchange Forum 2023 was held on April 5 and discussed how to optimise the exchange of human resources between the two countries. The forum was organised by the Japan International Cooperation Agency (JICA) together with the International Labour Organisation (ILO) and the Vietnam Labour Export Association.

By Bich Ngoc


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