An agreement to this effect was signed between the Vietnam Ministry of Finance and the RoK’s Export-Import Bank in Hanoi on July 9.
The two loans have a repayment period of 40 years, including 10 years of grace with an interest rate of 0.1% per year. Of the total, US$117 million will be spent on building Hung Ha Bridge linking Hung Yen and Ha Nam provinces and US$45 million will be poured into a project to improve the Hanoi University of Pharmacy.
The amount is under the loan programme worth US$1.2 billion that the RoK Government pledged to provide for Vietnam in the 2012-2015 period.
Earlier, in the 2008-2011 period, the RoK Government had provided Vietnam with US$1 billion to assist the country with projects in the areas of infrastructure, transport, health, water supply, vocational training and others.
Source: nhandan.org.vn