Two soft loans between Italia and Vietnam
Under the two memorandum previsions, the Government of the Italian Republic will provide to Vietnam €13.7 million through two separate soft loans.
Two Memorandum of Understanding were signed yesterday between the Government of the Italian Republic and the Government of the Socialist Republic of Vietnam on the concession of two soft loans regarding the projects “Improving the Flood Forecasting and Warning System in Vietnam –Phase II” and “Tay Ninh Wastewater Collection and Treatment System – Phase I”.
Under the two memorandum previsions, the Government of the Italian Republic will provide to Vietnam €13.7 million through two separate soft loans.
The first soft loan of €4.0 million will be used to improve the capacity of flood forecasting and warning system in responding to climate-change situations in the South Central Regions of Viet Nam.
The other soft loan of €9.7 million will be used to improve the urban sanitation conditions in Tay Ninh city by rehabilitating and upgrading the drainage and wastewater collection and treatment systems of the city.
Development cooperation activities lay at the core of the longstanding partnership between Italy and Vietnam since its set off, as Italy was one of the strongest advocates to initiate European aid programs to Vietnam in the post-war.
The first Italian Development Cooperation Office in Hanoi was opened in 1998 and it is still functioning at full capacity.
