During the working session, the two sides held a signing ceremony for loan and grant agreements for two projects: “Integrated Coastal Zone Management in the Mekong Delta, Phase II” and “Protection, Restoration, and Sustainable Development of Forests in the Central Highlands.”
Deputy Minister of Finance Tran Quoc Phuong and a representative of the German Development Bank (KfW) sign loan and grant agreements for two new projects. Photo: MOF.The total value of the two projects is EUR 60 million, funded by the German Government through the German Development Bank (KfW). The event also reaffirmed the German Government’s commitment to strengthening the Strategic Partnership with Vietnam.
According to Deputy Minister Tran Quoc Phuong, the two projects will make significant contributions to socio-economic development in the provinces of An Giang, Gia Lai, and Quảng Ngãi. The projects focus on enhancing climate change adaptation capacity, reducing disaster risks, and improving the livelihoods of people in disadvantaged areas.
To ensure effective implementation, Deputy Minister Tran Quoc Phuong requested the project management agencies and investors to urgently direct relevant units to carry out the projects in line with the committed schedule. The Ministry of Finance pledged to continue closely coordinating with Vietnamese ministries, sectors, and localities to ensure the projects achieve the best possible outcomes. The Ministry also expressed its expectation of continued active cooperation from the German Government, the German Embassy in Vietnam, and KfW to improve the effectiveness of loan capital utilization.
Ms. Helga Margarete Barth, Ambassador Extraordinary and Plenipotentiary of Germany to Vietnam, speaks at the ceremony. Photo: MOF.On behalf of the German Government, Ms. Helga Margarete Barth, Ambassador Extraordinary and Plenipotentiary of Germany to Vietnam, said that the EUR 60 million represents the largest amount of funding the German Government has committed to Vietnam through KfW over the past 10 years.
The two sides will work together to ensure that the funds are used effectively, for the intended purposes, and in the interests of the supported communities, in line with global commitments. They will also continue close coordination in the spirit of partnership to effectively implement the agreements.