Spain to provide 65 million Euros for Viet Nam in 2008-2010
Ha Noi (VNA) – The Government of Spain will provide Viet Nam with a preferential loan of 65 million Euros in the 2008-2010 fiscal year.
To this effect, a financial cooperation programme was signed between Minister of Planning and Investment Vo Hong Phuc and Spain ’s Secretary of State for Tourism and Trade Pedro Mejia Gomez in Ha Noi on February 26.
The loan will be disbursed for the country’s socio-economic development, especially in transport infrastructure, energy, post and telecommunication and water management.
The European country will provide an additional 200 million Euros in case it gets involved in the building of Ho Chi Minh City ’s metro system.
Furthermore, the Spanish government will donate 3 million Euros in non-refundable aid to Viet Nam in the 2008-2010 period to help Spanish companies build feasibility studies for their projects in the country.
According to the Ministry of Planning and Investment, Spain provided 170 million USD in preferential loans and 130 million USD in commercial loans for Viet Nam between 1994 and 2002.
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