HCMC – Germany and Vietnam have signed an agreement on official development assistance (ODA) for Vietnam for the 2024-2025 period.
This agreement was formalized during the annual meeting on bilateral cooperation between the two countries, which took place from November 7-8 in Bonn, Germany.
During the meeting, both sides conducted a review of the implementation of agreements and commitments related to ODA for 2022 and 2023. They also discussed recommendations to address any shortcomings and challenges encountered in the disbursement of loans and the execution of projects funded by Germany’s ODA, including non-refundable technical grants provided to Vietnam.
Both nations agreed to hold the next conference in Vietnam in 2025.
In 2021, Germany pledged to provide Vietnam with 152.11 million euros in ODA, equivalent to US$162.64 million.
Within the framework of the International Climate Initiative, seven bilateral projects are currently in progress, with a total value of 25.4 million euros.
These projects primarily focus on climate-related policy consultancy regarding greenhouse gas reduction, adapting to the impacts of climate change, and preserving biodiversity.
Germany is actively participating in a project aimed at addressing marine waste issues in Vietnam. This initiative has a total value of about 11 million euros.