Japan Lends US$103.88 Mln to Vietnam SMEs by End-2008

Japan had provided a total of JPY10.4 billion (approx US$103.88 million) to Vietnamese small and medium enterprises through phases of 1 and 2 of the SME finance program (SMEFP) by the end of 2008, the State Bank of Vietnam has said.

 

Governor of the SBV Nguyen Van Giau had a meeting with Japanese Ambassador to Vietnam on Tuesday, Mitsuo Sakaba. Giau hailed development aids resumption by Japan and noted that the government of Vietnam will cooperate tightly with Japanese counterpart to effectively use ODA loans.

 

Meanwhile, Mitsuo Sakaba said Japan will increase supports for Vietnam financially to overcome impacts of the global economic fallout.

 

Japan will continue to finance SMEFP in the third stage with the focus on developing supporting industries in Vietnam, the Japanese ambassador said.

 

Japan has just decided to resume official development aid and will provide loans in yen worth US$900 million to Vietnam for the rest of fiscal year of 2009 after the Asean country has effective efforts in fighting corruption, particularly PCI case. (SBV)