Exchange of Notes concerning Yen Loans and Grant Aid to Viet Nam
On May 1, H.E Mr. YAMADA Takio, Ambassador of Japan to Viet Nam, and H.E Mr. Ho Duc Phoc, Minister of Finance of Viet Nam and Mr. Hoang Minh Son, Deputy Minister of Education and Training of Viet Nam exchanged notes concerning one yen loan project of up to 18.871 billion yen in total and one grant aid project of 550 million yen, in Hanoi, in the presence of H.E Mr. KISHIDA Fumio, Prime Minister of Japan, and H.E Mr. Pham Minh Chinh, Prime Minister of Viet Nam. Overview of the projects are as follows.
1. Yen loan
- (1) Project name: Project for Disaster and Climate Change Countermeasures Using Earth Observation Satellite (II) (18.871 billion yen)
- (2) This project is to provide equipment necessary for the development and use of earth observation satellite and human resource development for using satellite observation data at those facilities. This cooperation is expected to contribute to response to Viet Nam’s vulnerabilities, through advancement of disaster and climate change countermeasures and establishment of operation system.
- (3) The terms of the loan are as follows:
- (ⅰ) Interest rate: 0.1% per annum (0.01% per annum for the consulting services)
- (ⅱ) Repayment period: 40 years (including a 10-year grace period)
- (ⅲ) Procurement terms: Japan tied
2. Grant aid
- (1) Project name: Economic and Social Development Programme (550 million yen)
- (2) There is a shortage of engineers in the field of welding and joining technology which is the core of modern manufacturing in Vietnam. It is important to develop human resources in this field for the promotion of domestic industries.
- (3) This programme aims to develop industrial human resources by providing the Government of Viet Nam with equipment to promote education and research in the field of welding and joining at Hanoi University of Science and Technology. This cooperation is expected to contribute to the growth and strengthening of competitiveness of Vietnam.