VN to get EU's ODA in next seven years

15/10/2013 12:10

The European Union (EU) will annually provide over €300 million in official assistance development (ODA) to Viet Nam, announced Ambassador and Head of the EU delegation to Viet Nam Franz Jessen on October 10.

Mr. Franz Jessen said the EU is considering its ODA loans for Viet Nam in the 2014-2020 period which may be higher than the previous years.

He revealed that within the next three weeks, around 70 European businesses will visit VietNam.

At present, the EU is the largest donor of non-refundable aid to Viet Nam. The EU is VietNam’s second biggest ODA provider, with more than US$11 billion in the 1996-2010 period, which has contributed to the country’s socio-economic development.

The EU committed around US$1.1 billion for Viet Nam in 2012, making up 13.24% of total foreign aid amount. About 32.5% of the EU's financial assistance (approximately US$324.05 million) is in the form of non-refundable aid.

Source: chinhphu.vn



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