The Italian Government will provide Việt Nam with € 30 million in loan, with € 4.5 million in the form of aid, to help it undertake development projects in the next three years.

Italian Ambassador to Việt Nam Lorenzo Angeloni unveiled the funding plan at a press conference in Hanoi on May 16.

Italy's financial assistance also covers vocational training in VIệt Nam - Illustration photo

The diplomat said Italy’s financial assistance has mainly gone to projects on health care, education, vocational training, water, environmental sanitation, and trade, which has contributed positively to reducing poverty in Việt Nam.

He suggested that Italian and Vietnamese businesses should establish joint ventures and encouraged Vietnamese businesses to seek Italian partners for further cooperation.