The government on Monday formalized an Official Development Assistance package for Vietnam, including up to 88 billion yen in yen-denominated loans, to support Hanoi's market-oriented reforms under the "Doi Moi" (renovation) policy.
The aid package was announced after a top-level meeting Monday in Tokyo between Prime Minister Keizo Obuchi and visiting Vietnamese Prime Minister Phan Van Khai, who arrived in Japan Sunday for a three-day official visit.
The aid comes under the framework of the so-called Miyazawa plan -- a $30 billion fund proposed in October by Finance Minister Kiichi Miyazawa to help Asian countries hit by the regional economic crisis.