South Korea to Triple ODA for Vietnam
South Korea will triple official development assistance (ODA) for Vietnam in the coming years as part of its strategy to enhance economic cooperation with the Southeast Asian nation, according to South Korean officials.
The South Korean aid for Vietnam, which now accounts for 0.09% of its GDP, is expected to triple to 0.25%, they said at a two-day business forum held in Hanoi on the occasion of President Lee Myung-bak’s visit to Vietnam.
South Korea is expected to offer the country a US$1 billion soft loan between 2008 and 2011. In the 2003-2008 period, South Korea provided US$770 million in ODA for the country. (Pioneer)
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