Vietnam, Germany ink financial deal worth millions of euros

The German Government has pledged to provide Vietnam with funds of €272 million to implement cooperation programs and projects on energy, vocational training and environment protection.

The agreement signing ceremony.

According to the Vietnam-Germany Financial Cooperation Agreement, signed on October 11 in Hanoi, the German Government will give Vietnam €22 million in ODA, an non-refundable aid of €5 million and €245 million as development loans.

This is the deal receiving the ever biggest fund granted by Germany for Vietnam, said Mr. Hans-Jurgen Beerfelz, State Secretary of the Federal Ministry for Economic Cooperation and Development.

At the agreement signing ceremony, Deputy Minister of Finance Tran Xuan Ha stated that the German fund vividly proves the good strategic cooperation between Vietnam and Germany.

He added that the fund will be fruitfully spent to serve economic growth, social security and environmental protection.

Vietnam is now Germany’s 40th biggest trading partner out of 144 partners.