(VOVworld) – Minister of Planning and Investment Bui Quang Vinh and Ambassador Ha Chan-ho signed a framework agreement loans to Vietnam in Hanoi on Friday.

photo: Danhlam/VNA

The agreement defines conditions of supply and usage for a 1.2 billion USD credit package between now and 2015. The sum will be invested in infrastructure development, renewable energy, healthcare, and agriculture development. Minister Vinh praises the improved relations between Vietnam and South Korea. “South Korea’s ODA for Vietnam in recent years has been disbursed on schedule and has generated practical results for Vietnam’s economy. We pledge to cooperate with the Korea International Cooperation Agency and other Korean organizations in managing the ODA fund effectively.”