Record Japanese ODA rolling in; green earmarks a first

Some US$650 million in ODA is expected to be signed on next month, according to ambassador Mitsuo Sakaba.

Sakaba said most of the assistance – estimated to bring the total amount of Japanese ODA in Vietnam to $1.45 billion by the end of September – would go to key infrastructure projects. But he added that small and medium-sized enterprises in supporting industries would also benefit from the funds.

The new sum is much larger than the previous high of $1.1 billion in 2007, Sakaba said without disclosing an estimate of what the full 2009 figure would be.

Total ODA contracted to Vietnam reached $2.18 billion in the first seven months this year, up 45.4 percent compared to the same period last year, according to government figures.

Japan is the largest aid provider to Vietnam, having given the country nearly $16 billion since 1992.