On 03 March 2015, the Kuwait Fund for Arab Economic Development and the Ministry of Finance of Vietnam signed a loan agreement whereby the Kuwait Fund will make a loan in the amount of KD4,000,000 (equivalent to about USD13.6 million) to assist in the financing of the irrigation infrastructure upgrading project in Hai Hau District of Nam Dinh Province.  

The project aims at contributing to the socio-economic development in Hai Hau Town through providing adequate irrigation and agricultural drainage services, and thus increasing agricultural production, leading to contributing towards poverty reduction for the project area inhabitants totaling approximately 105,000 capita and to national food security.

It is worth mentioning that by extending this loan, the Fund has committed to providing 12 loans to Vietnam with a total amount of about KD43.5 million (equivalent to about USD147.9 million) for the financing of projects in various sectors.