Saudi Arabia loans Vietnam 179 million USD for development projects

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(VOVWORLD) - The Saudi Fund for Development (SFD) has provided soft loans worth about 179 million USD for 12 development projects and programs in Vietnam over the years, according to the Embassy of Saudi Arabia in Vietnam. 
Saudi Arabia loans Vietnam 179 million USD for development projects - ảnh 1Illustrative image. (VNA)

A working team from the SFD has inspected a number of projects it is funding in some localities of Vietnam including a transport infrastructure project in the northern province of Yen Bai, the Embassy said. The Yen Bai project aims to build a 30-km road at the cost of over 20 million USD, benefiting about 12,000 locals. 

The team also visited a 10 million USD project to build a 20-km road to the centre of Tan Yen commune in northern Lang Son province. Once completed, the project will serve about 10,000 local residents. 

During the visit, the team had a working session with representatives of the Ministry of Industry and Trade and the Ministry of Finance on the progress of the projects. 

According to the embassy, the Saudi Arabian Government pays great attention to supporting Vietnam through development projects and programs funded by the SFD. 

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