Australia announces 78 million AUD in aid for Vietnam
(VOVWORLD) - Australia’s proposed aid to Vietnam remains 78 million AUD in the next fiscal year. On Tuesday, Treasurer Josh Frydenberg delivered Australia's Federal Budget, announcing a reduction of the foreign aid budget.
Australia’s aid allocation has been reduced to 4 billion AUD for the coming fiscal year, down from the estimated 4.33 billion AUD spent in the current fiscal year. 1.4 billion AUD will be allocated to the Pacific region, the highest ever Australian aid investment in the region. The new budget is aimed at reducing the region’s reliance on Chinese loans, which are used to build much-needed infrastructure.