Germany Donates 43Mln Euro for Development Projects

3:26:21 PM | 7/8/2005

The Vietnamese Government last week reached an agreement with the German Government on a grant of 43 million Euro for Vietnamese development projects in the fiscal year of 2004, including 16,37 Euro million in non-refundable aid and the rest from soft loans.

Around 8 million Euro will be used in technical assistance projects and the remainder for financial cooperation.

During the talks, the two sides discussed a programme to support small and medium-sized enterprises with the aim of facilitating the private sector. The 120-million Euro programme will be supported with 20 million Euro from Germany and the remainder from France and the Asian Development Bank (ADB) at a preferential interest rate of 0.75 per cent and a duration of 40 years.

In addition, the German Government committed to help Vietnam undertake a programme to preserve the World Natural Heritage Site of Phong Nha - Ke Bang National Park in central Quang Binh province recognised by UNESCO.