Germany pledges 185.5 million Euros in aid to Vietnam over 2 years

That is the result of the intergovernmental negotiations between Germany and Vietnam on development cooperation that took place in Hanoi from November 26 to 28.

On behalf of the German Federal Government , Ms. Gisela Hammerschmidt, Director General of the Ministry for Economic Cooperation and Development (BMZ), pledged a total of 185.5 million euros for development projects over the next two years.

Signing ceremony between representatives from Germany and Vietnam: Mr. Hoang Hai, Deputy Director of the Department of Debt Management and Foreign Economic Relations, Ministry of Finance and Ms. Gisela Hammerschmidt, Director at the German Federal Ministry for Economic Cooperation and Development (BMZ)

Of this, 25.5 million euros will be allocated to consulting projects within the framework of technical cooperation, while the remaining 160 million euros will focus on sustainable investments in enterprises. The Vietnamese side is led by Mr. Hoang Hai, Deputy Director of the Department of Debt Management and Foreign Economic Relations (Ministry of Finance).

The two sides agreed to strengthen cooperation in the fields of renewable energy and vocational training, and expand links with the private sector. Germany is currently Vietnam’s most important partner in Europe in terms of economy and development, and this relationship will continue to be strengthened.

A notable breakthrough in the negotiations was the agreement on Technical Cooperation Guidelines (TC-Guidelines), which helped shorten the time for project appraisal and implementation and improve implementation efficiency at the project level.

The two sides agreed to strengthen cooperation in the fields of renewable energy and vocational training.

With new commitments, Germany continues to expand its support for Vietnam on the occasion of the 50th anniversary of the establishment of bilateral diplomatic relations. To date, the total value of German-Vietnamese development cooperation has exceeded 3 billion euros.

Minh Trang

Source: https://congthuong.vn/duc-cam-ket-ho-tro-185-5-trieu-euro-cho-viet-nam-trong-2-nam-433025.html