HCMC – Japan signed agreements with Vietnam on March 20 to provide about 90 billion yen (US$609 million) in new-generation loans to fund three programs on green growth and climate resilience.
Deputy Finance Minister Tran Quoc Phuong and Japanese Ambassador to Vietnam Ito Naoki signed the exchange notes in Hanoi on behalf of the two governments, reported local media.
The funding covers a budget support program for green transition and climate adaptation, a rural development project to improve disaster resilience, and infrastructure development to support production for ethnic minority communities in northern midland and mountainous provinces.
The Ministry of Finance said that the agreements reaffirm Japan as Vietnam’s largest bilateral donor and reflect efforts to strengthen the comprehensive strategic partnership between the two countries.
The ministry added that the loans implement commitments by senior leaders to promote a new generation of official development assistance, prioritizing green transition and climate adaptation.
Phuong said that the programs are expected to support socioeconomic development, with a focus on improving essential infrastructure and strengthening climate resilience in disadvantaged northern regions.
The green transition loan, valued at 50 billion yen, follows a previous budget support loan for post-pandemic recovery and reflects Japan’s confidence in Vietnam’s policy implementation and budget management.
The Ministry of Finance said it will coordinate with relevant agencies and local authorities to implement the programs and called for continued support from the Japanese government, the Japanese Embassy, and the Japan International Cooperation Agency.
