Official development assistance (ODA) from South Korea would be more than doubled to reach US$3 billion by 2015, said South Korea’s new Ambassador to Viet Nam Ha Chan Ho yesterday.

“Thanks to this increase, ODA to Viet Nam will surely increase in the period of 2011-15. The exact figure will be released soon,” said Ha.

South Korea’s assistance programmes in Viet Nam would focus on four key sectors from 2011-15, Ha explained.

The key sectors would include creating a foundation for sustainable development, including environmental projects, developing human resources and transport infrastructure, and specific projects in the health care and rural development sectors.

The Embassy of South Korea estimated that it would give $20 million in non-refundable ODA assistance to Viet Nam this year.

“Since 1991, the volume of non-refundable assistance to Viet Nam has continued to increase year by year,” said Ha.

“From 1991-2010, we provided about $129 million in assistance to Viet Nam, making it Korea International Co-operation Agency’s (KOICA) second largest beneficiary.”

The information and communication sector received the largest portion of support during the period with 26 per cent of the total assistance package. Education followed with 21 per cent and healthcare rounded out the top three with 19 per cent.

The Embassy of South Korea also announced that the preferential financial loan figure would be $215 million this year.

“South Korea’s Government signed an agreement to offer $1 billion in preferential loans to Viet Nam from 2008-11,” the embassy said.

Many projects have been implemented throughout the country with this support, such as the Vam Cong Bridge in the Cuu Long (Mekong) Delta and the Ha Noi-Hai Phong Highway.

From 1999 to 2010, Korea’s non-refundable assistance and preferential loans to Viet Nam were $129 million and $1.26 billion, respectively.

In 2010, South Korean companies working in Viet Nam organised 57 social programmes valued at more than $1.4 million.

Source: VNS