VN, Germany sign cooperation agreements

17:18 | 03/12/2014

VGP- The Ministry of Finance and the German Ministry of Economic Cooperation and Development signed a finance cooperation agreement for 2013-2014 in Ha Noi on December 2.

Accordingly, the German Government will provide €70.5 million in official development assistance (ODA) and €8 million in non-refundable aid for Viet Nam.
 
In addition, it will grant  €100 million for power network improvement projects in Ha Noi and Ho Chi Minh City under a financing agreement inked the same day.
 
Deputy Minister of Finance Truong Chi Trung said with the agreements Germany strengthened its position as Viet Nam’s third largest bilateral donor, after Japan and France.

Now, Germany is the largest European trade partner of Viet Nam with two-way trade reaching nearly $8 billion.
 
                                                                                                                        By Vien Nhu