Germany signs agreement on ODA for Vietnam in 2024-2025 period

Vietnam and Germany have signed an agreement on official development assistance (ODA) for Vietnam in the 2024-2025 period.

Director General of Department of Foreign Economic Relations Pham Hoang Mai and Director General and Commissioner for Asia of Federal Ministry for Economic Cooperation and Development (BMZ) Gisela Hammerschmidt sign the agreement. (Photo: VNA)

On behalf of the Governments of Vietnam and Germany, Director General of Department of Foreign Economic Relations under the Ministry of Planning and Investment Pham Hoang Mai and Director General and Commissioner for Asia of Federal Ministry for Economic Cooperation and Development (BMZ) Gisela Hammerschmidt signed the agreement at the end of the annual meeting on bilateral cooperation between Vietnam and Germany held from November 7-8 in Bonn, Germany.

At the meeting, the two sides reached agreement on projects and ODA in the 2024-2025 period. They also reviewed the implementation of agreements and commitments related to ODA in 2022-2023 and made policy recommendations to address shortcomings and challenges in the process of ODA disbursement and implementation of projects funded by Germany's ODA and non-refundable technical grants in Vietnam.

The two sides also agreed that the next meeting will be held in Vietnam in 2025.

Regarding Germany’s development cooperation with Vietnam, in 2021, the German Government committed to providing 152.11 million EUR (162.64 million USD) in development and technical cooperation aid to Vietnam.

Seven bilateral projects within the framework of the International Climate Initiative are being implemented with a total value of about 25.4 million EUR, focusing on climate-related policy consultancy on greenhouse gas reduction, adapting to the impacts of climate change and conserving biodiversity.

Germany's Federal Ministry for the Environment, Nature Conservation, Nuclear Safety is funding a 11-million-EUR project on combating marine waste in Vietnam. Three bilateral projects with a total planned capital of 39 million EUR are under preparation. In addition, Vietnam will receive a total funding of about 64 million EUR from Germany for three regional projects and two global projects.

Overall, the German Government regarded development cooperation with Vietnam as "successful", and the quality of cooperation and the effectiveness of the "triangular cooperation" with Vietnam as "very good".

Source: VNA