The Japan International Cooperation Agency has signed a deal with Vietnam’s Government to provide an official development assistance loan of 18.871 million yen (over $148.4 million) to help the country in countering disasters and climate change.
The financing is for buying one earth observation satellite, equipment, and related facilities for satellite development.
It will also promote the utilization of data acquired from the satellite, and develop the capabilities of related personnel in Vietnam to operate and maintain the facilities and equipment, thereby contributing to improving the living and social conditions in the country.
The loan, signed on Monday, is dedicated to the Project for Disaster and Climate Change Counter Measures using Earth Observation Satellite II.
For the entire project, funding of 7.227 million yen ($56.83 million) was allocated under the first loan in November 2011, JICA said. The newest loan is the second.