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Japan commits JPY148.5Bln ODA for Vietnam in 2012

GBS - Japan committed to give JPY148.5 billion ($1.9 billion) in official development assistance(ODA) for Vietnam in the 2012 fiscal year, the Japanese Ambassador YasuakiTanizaki said at the opening ceremony of Consultative Group (CG) meeting on Dec 6. The actual amount of ODA may be higher in 2012, the Ambassador added.

Vietnam need to speed up the financial sector innovation in accordance with law. Besides, the country should manage the foreign currency exchange rates in accordance with the common situation and compliance with stable export, the Japanese Ambassador mentioned.

Earlier, Japanese representatives said that due to the earthquake and tsunami, Japan would delay nearly $800 million ODA for Vietnam. However, in October Japan government approved to pledge Vietnam a new loan worth JPY80.3 billion ($1.03 billion).

Japan has given Vietnam a total ODA fund of JPY1.778 trillion ($22.74 billion) so far, being the largest bilateral donor in Vietnam.

- Source TEI/StoxPlus

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