World Bank (WB) chief in Vietnam Martin Rama says Japan’s Monday announcement to resume official development assistance (ODA) to Vietnam is critical at a time when Vietnam is trying to stimulate the economy.

WB’s credit for operational projects in Vietnam stands at US$4.5 billion, and total committed loans and grants are $8.5 billion, according to Rama.

He says the implementation of projects in Vietnam has been relatively slow, so the country should pay more attention to this issue.

Vietnamese Minister of Planning and Investment Vo Hong Phuc said Monday that Japan plans to provide ODA of 83.2 billion yen ($900 million) this year.

Japan provided about $1 billion in loans to Vietnam in the financial year ending March 2008.

Reported by Bao Van