On April 4, 2016, a 95.167 billion yen ($855 million USD) loan agreement was signed with the Socialist Republic of Vietnam and the Japanese International Cooperation Agency (JICA) for four infrastructure projects. This loan will be part of the Japanese International Cooperation Agency's STEP program which implies that the loan will go towards providing Vietnam with Japanese civil engineering, materials, equipment, technology, consulting services as well as the importation of general commodities for the climate change support program.
This ODA loan will be separated into four different infrastructure projects.
(1) North-South Expressway Construction Project (Da Nang – Quang Ngai Section)
(2) Lach Huyen Port Infrastructure Construction Project (Port)
(3) Lach Huyen Port Infrastructure Construction Project (Road and Bridge)
(4) Support Program to Respond to Climate Change
Special Terms for Economic Partnership (STEP)
A stipulation in JICA ODA loan agreements is the utilization of advanced Japanese technologies and the employment of Japanese firms in overseas projects.