Up until now, The KFAED has funded Vietnam’s 14 projects with the total value of 49.7 million Kuwaiti Dinar (around 168.776 million USD). Financed fund is primarily used for rural infrastructure development projects such as small-scaled traffic and irrigational works in poor provinces. Many of those projects have finished and are currently in effective use, including Dau Tieng Irrigation, Van Dinh Irrigation, Dac Ta – Ngoc Linh Road, Phu Thong – Khang Ninh Road.

The coastline infrastructure development project in Thai Thuy District, Thai Binh Province is Vietnam’s first climate change project financed by the Fund. Amid Vietnam’s difficulties in dealing with negative impact from climate change, the project implementation will help increase the capacity for coping with natural disasters of Thai Binh Province, as well as the Northern Delta area as a whole.  

In a pre-signing meeting with Mr. Deputy Director of the Fund, Mr. Vice Minister Tran Xuan Ha kindly requested continual collaboration from the KFAED in making more efficient use of the fund, improving communication and considering borrowings with higher concessional elements for Vietnam.

On behalf of the Vietnamese Government, Mr. Vice Minister Tran Xuan Ha thanked the Kuwaiti Government and people in general, and the KFAED in particular for their highly valued and effective support for Vietnam, and wished for further close collaboration in the future. The Ministry of Finance also committed to coordinate with concerned ministries, agencies and the People’s Committee of Thai Binh Province for effective utilization of the Loan Agreement and allow good conditions for a punctual timeline in order to maximize project efficiency.