The signing ceremony of the exchange of notes on Japanese ODA loan was held today in Ha Noi to finance ¥83.2 billion (or US $900 million) for four projects in the fiscal year 2008. The event is the first one of its kind since Japan decided to resume its ODA for Vietnam in late February.
The first ODA project will be the construction of the first underground urban rail line in Ha Noi. According to Mr. Tsuno Motonori, chief representative of the Japan International Cooperation Agency (JICA) in Ha Noi, the project, granted with ¥14.688 billion, will be launched in mid-2011 and finished after three years.
Japanpledged to give over ¥50 billion to improve the environment and anti-flood measures in Ha Noi and Hai Phong. The drainage project for environmental improvement in Ha Noi is worth of ¥29.289 billion and the similar project for Hai Phong values ¥21.306 billion.
The fourth credit project is aimed at improving national road network. With ¥17.918 billion, it is expected to help upgrade local transport infrastructure to facilitate economic development in rural areas and narrow the rich-poor gap.
Mr. Tsuno Motonori said that, to ensure transparency in implementing the projects, a third experienced and capable partner will be invited to supervise the bidding assessment. JICA will also publish bidding information on mass media.
The two governments had established a joint committee for anti-corruption and agreed on anti-corruption policies for Japanese ODA loan projects