JICA signed a new agreement for tenancy with VNPF after the previous agreement expired.
JICA has been occupying office space in the former Air Vanuatu Building next to the National Bank of Vanuatu in the centre of town for a long time.
The building is one of the properties of VNPF which generates monthly profits.
VNPF General Manager, Parmod Achary said JICA has been paying rent of more than Vt2 million every three months in advance.
The VNPF Board has agreed for contractors to make their bid through the tender process for the building’s renovation works.
According to Achary, the first tenancy agreement between VNPF and JICA was signed in 2006.