Tran Xuan Ha, deputy minister of finance and Hesham Al-Waqayan, vice general director of Kuwait Fund signed an agreement borrowing capital from Kuwait's Arab Economic Development Fund in order to realise Cha To-Muong Tung traffic road project in Dien Bien province.
The total value of loans in the signed agreement was posted at $14 million.
According to Ministry of Finance's statistics, up to now, Kuwait government has funded 8 projects for Vietnam, with total value of $124 million. The loans offered by Kuwait Fund has been used for carrying out urban infrastructure projects such as traffic roads, small-sized irrigation works for poor provinces.
Many projects funded by Kuwait Fund have been put into operation so far such as Dau Tieng irrigation work, Van Dinh irrigation work, Dac Ta-Ngoc Linh road.
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