HCMC – South Korea will provide Vietnam with over US$52 million in official development assistance (ODA) this year, up by nearly 50% over 2023.
Deputy Prime Minister Tran Luu Quang met with President of the Korea International Cooperation Agency (KOICA) Chang Won-sam yesterday, March 19, discussing future ODA for Vietnam.
The South Korean government and KOICA are expected to increase ODA loans for Vietnam to over US$52 million in 2024, said Chang.
Deputy Prime Minister Quang expressed strong appreciation for South Korea’s ODA to Vietnam, saying that the assistance has contributed to Vietnam’s socio-economic development.
He also suggested that KOICA ask the South Korean government to officially commit to supporting a rural power supply project in the northern province of Dien Bien, with total capital of US$20 million.
In June 2023, South Korean President Yoon Suk-yeol pledged that South Korea would provide Vietnam with US$200 million in ODA loans in 2024-2027, focusing on environmental, healthcare, education, and digital transformation sectors.
By the end of 2023, South Korea’s non-refundable aid through KOICA to Vietnam had reached about US$600 million.
