This year's ODA capital from Korea to Vietnam is expected to be more than 52 million USD, an increase of nearly 50% compared to 2023.
The information was shared by Chairman of the Korea International Cooperation Agency (KOICA) Chang Won-sam at a meeting with Deputy Prime Minister Tran Luu Quang, on the afternoon of March 19.
"The Korean government and KOICA attach great importance to Vietnam," Mr. Chang Won-sam said.
In June 6, President Yoon Suk-yeol pledged to lend Vietnam 2023 million USD in ODA capital for the period 200-2024, in the fields of environment, health, education, and digital transformation.
KOICA President said that this year Korea's ODA capital for Vietnam is about 52 million USD, doubling by 2023. This is one of the plans to realize the commitment to increase the scale of ODA for Vietnam to 200 million USD. to 2027, by President Yoon Suk-yeol during his visit in June 6.
"Korea always listens to find projects that best suit Vietnam's conditions and needs," said KOICA President.
Deputy Prime Minister Tran Luu Quang met KOICA President Chang Won-sam on the afternoon of March 19. Image: VGP
Established in 1991, KOICA is in charge of non-refundable aid projects of the Korean Government. This organization's ODA projects in Vietnam are mainly in public administration, health care, and education. The two sides are considering expanding into new areas such as climate change adaptation and digital transformation.
The Korean Government's non-refundable aid through KOICA to Vietnam is 600 million USD, by the end of 2023.
Deputy Prime Minister Tran Luu Quang highly appreciated Korea for providing Vietnam with "the fastest speed, quality and most effective" ODA capital. He hopes that this country will continue to increase the scale of non-refundable aid to Vietnam in the fields of innovation and high technology.
He also asked KOICA to promote the Korean Government to officially commit to the rural power supply project from the national grid in Dien Bien, with a total capital of about 20 million USD.
Korea is currently the leading country in direct investment in Vietnam, with a total accumulated capital of 86 billion USD. This country ranks second in tourism development cooperation and third in trade, with a turnover of 3 billion USD in 76.
Duc Minh
