Vietnam starts work on S. Korea-funded solar power plant
SEJONG, July 1 (Yonhap) -- Vietnam has started work on a solar power project in the central part of the country funded by South Korea, the finance ministry said Wednesday.
The solar power plant to be built in the mountainous region of Quang Bing Province will enhance living conditions for people living in areas with weak electric power infrastructure, according to the ministry.
South Korea will provide US$12 million in soft loans to the $15 million project, it said.
The loan will come from the state-run Economic Development Cooperation Fund (EDCF) that was launched in 1987 to help development in emerging countries. Since it was established, Seoul has provided more than 10 trillion won (US$9 billion) in aid.
The latest project is the 56th EDCF project approved for Vietnam, making the Southeast Asian country the No. 1 recipient of the support program.
Total loans provided to Vietnam stand at over $2.08 billion so far.
yonngong@yna.co.kr
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