Japan pledges record ODA for Vietnam in 2023-24 fiscal year

Vietnam and Japan signed loan agreements worth ¥102 billion (equivalent to $678 million) between March 2023 and March 2024, a record high in the past six years, according to Japan International Cooperation Agency (JICA) Chief Representative Sugano Yuichi as quoted by the Government News.

Speaking at a press briefing held in Hanoi on October 17, he said the figure excluded funding for the private sector.

In the period from March 2023-March 2024, technical cooperation reached ¥5.2 billion yen (equivalent to $35 million), making it the largest scale in the world for the same fiscal year while non-refundable aid amounted to ¥1.1 billion (equivalent to $7.5 million) in committed funds, according to Mr. Sugano.

JICA's programs and projects have timely supported Vietnam in recovering its economy after the COVID-19 pandemic and contributed to both infrastructure and human resource development, laying the foundation for medium- and long-term economic growth, he stated.

Vietnam is the leading country among those with which JICA is collaborating, he said, adding that during the period, JICA sent 45 Japanese overseas cooperation volunteers to Vietnam, as well as launched 36 investment projects from Japanese small and medium-sized enterprises in the field of sustainable development goals (SDGs), and 24 grassroots technical cooperation projects.