Signed a loan agreement for $14.4 million from the Kuwait Fund.
On August 8th, in Hanoi, the Ministry of Finance and the Kuwait Fund signed a loan agreement with the Kuwait Arab Economic Development Fund for the multi-purpose rural development project in Da Bac district, Hoa Binh province, with a total value of 14.4 million USD.
Speaking at the signing ceremony, Deputy Minister of Finance Truong Chi Trung thanked the Government and people of Kuwait and the Kuwait Arab Economic Development Fund for their effective support to Vietnam in the past; and expressed his hope for continued close cooperation in the future.
On behalf of the Vietnamese Government, the Ministry of Finance will provide maximum support to ensure the Project is implemented according to the planned schedule, in order to achieve the highest possible effectiveness.
To date, the Kuwait Fund has provided Vietnam with loans through 9 projects totaling 38 million Kuwaiti dinars, equivalent to 140 million USD. These loans from the Kuwait Fund are primarily focused on rural infrastructure projects such as transportation and small-scale irrigation works in impoverished provinces.
To date, many projects have been completed and put into effective use, such as the Dau Tieng Irrigation Project, the Van Dinh Irrigation Project, and the Dac Ta-Ngoc Linh road, contributing to poverty reduction and economic development in the localities.
According to (VNA) - LT
