An official of the Ministry of Planning and Investment's Foreign Economic Relations Department said that the two sides would sign a diplomatic note for a soft loan worth JPY58.18 billion (USD725 million) for Vietnam.

 

The funding will be pumped into two major traffic infrastructure projects, including the USD932.4-million HCM City-Long Thanh-Dau Day motorway. The project will be funded by Japanese ODA and Asian Development Bank capital.

 

Another project that will benefit from the credit package will be the USD1.42 billion Danang-Quang Ngai motorway, funded by Japanese ODA and the World Bank.

 

Both projects are part of the major North-South motorway.

 

The Ministry of Finance and the Japan International Cooperation Agency will also sign a credit agreement on June 15.