Italy offers EUR13.7 million in loans to support flood forecasting and wastewater treatment

Italy and Vietnam have reached two deals on two soft loans for the projects “Improving the Flood Forecasting and Warning System in Vietnam—Phase II” and “Tay Ninh Wastewater Collection and Treatment System— Phase I.”

Under the provisions of the two MoUs, the Italian government will provide Vietnam EUR13.7 million in two separate soft loans.

 

The first, worth EUR4 million, will be used to improve the capacity of flood forecasting and warning systems in response to climate change in Vietnam’s Central Region. The other, valued at EUR9.7 million, aims to improve urban sanitation in the Southern city of Tay Ninh by rehabilitating and upgrading its drainage and wastewater collection and treatment systems.

 

Speaking at the signing ceremony, Deputy Minister Phuong said that the two MoUs along with the positive results of the comprehensive economic cooperation between Vietnam and Italy would remarkably enhance bilateral economic cooperation between the two countries while contributing to the implementation of their Action Plan for a Vietnam–Italy strategic partnership.

 

For her part, Ambassador Piccioni reaffirmed Italy’s commitments to development cooperation with Vietnam through the signing of the MoUs, adding that they would serve as a pledge that Italy would join in efforts to deal with climate change and urban management, projecting the two sides’ cooperation in line with the targets of Vietnam and Italy’s Strategic Partnership laid out in the post-2015 Development Agenda and the Sustainable Development Goals.

 

At the ceremony, Ambassador Piccioni and Deputy Minister Phuong praised efforts by both sides to facilitate development and cooperation between the two countries. They also expressed their optimism that the two projects would be implemented speedily and successfully.

 

Over the years, Italy has committed to provide over EUR100 million for Vietnam. The European country has cooperated with relevant Vietnamese authorities, especially the Ministry of Planning and Investment, on a number of bilateral development projects in different sectors, including the environment, healthcare and education and training.

 

Under the framework of the Vietnam–Italy Strategic Partnership Agreement, there are eleven ongoing Italian initiatives and six others approved or in the pipeline to help with Vietnam’s growth targets.

 

(Source: NDO)