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South Korea to provide more ODA for Vietnam in 2024

By Truc Dao

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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.

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