Germany will supply funds worth at least 219 million euros (US$219) to Vietnam to help the Southeast Asian country realize many social-economic development strategies and projects in the next two years.
The funding, channeled into Vietnam by the Federal Ministry for Economic Cooperation and Development of Germany (BWZ), was committed following deals closed after a two-day government negotiation session dedicated to the two countries’ development cooperation in Hanoi.
The session, which concluded on Friday, was held to boost bilateral cooperation in environment, energy, and vocational training.
In addition to the money provided by the BMZ, the German side is also committed to allocating 31 million euros ($33.8 million) for the implementation of many environmental projects in many countries worldwide, including Vietnam, under the framework of an environmental program run by the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety.
Moreover, Germany is supporting Vietnam to implement projects in energy, environmental protection, and natural resource management.
Those projects focus on offering solutions for sustainable and efficient power supply, increasing the competitiveness of renewable energy, protecting coastal areas through reforestation in the Mekong Delta, and the sustained management of forests in northern and central Vietnam.
In vocational training, Vietnam and German have agreed to encourage their enterprises to create more apprenticeship places for students nationwide.
”The time for negotiations could not be better as both Germany and Vietnam are celebrating the 40th anniversary of diplomatic relations. An important pillar of this relationship is the field of development cooperation to help Vietnam implement development goals as outlined,” said Jutta Frasch, German Ambassador to Vietnam.
“Germany continues to be the trusted partner of Vietnam. Germany will support Vietnam in addressing arising social and economic challenges in the country,” she added.