Two Memorandums of Understanding signed between Italy and Vietnam on the concession of two soft loans to Vietnam
On 14 October 2016, two Memorandums of Understanding were signed between the governments of Italy and Vietnam on the concession of two soft loans to Vietnam regarding the projects “Improving the Flood Forecasting and Warning System in Vietnam –Phase II” and “Tay Ninh Wastewater Collection and Treatment System – Phase I”.
H.E. Cecilia Piccioni, Ambassador of Italy to Vietnam Cecilia Piccioni and Vice Minister of Planning and Investment of Vietnam Nguyen The Phuong signed the two agreements in a signing ceremony held at Casa Italia in Hanoi, with the participation of the Chairman of Tay Ninh Provincial People’s Committee Mr. Pham Van Tan and of the Director General of the National Hydro-meteorological Service Nguyen Cong Thanh.
Photo: Signing ceremony of the two MOUs
Under the provisions of the two memorandums, the Italian Government will provide €13.7 million to Vietnam through two separate soft loans.
The first soft loan of €4.0 million will be used to improve the capacity of flood forecasting and warning system in responding to Climate-Change impacts in the South Central Regions of Viet Nam. The other soft loan of €9.7 million will be used to improve the urban sanitation conditions in Tay Ninh city by rehabilitating and upgrading the drainage and wastewater collection and treatment systems.