Friday, July 21 2017

VietNamNews

NPC signs VNĐ515 billion loan

Update: July, 10/2017 - 19:00
Representatives of EVN NPC and financial partners sign syndicated loan agreement worth VNĐ515 billion. — Photo vietnamnet.vn
Viet Nam News

HÀ NỘI — Northern Power Corporation under Electricity of Việt Nam (EVN NPC), signed a syndicated loan agreement worth VNĐ515 billion (US$22.7 million) last week for the period of seven years.

Việt Nam International Commercial Joint Stock Bank (VIB) is the focal point for arranging this loan, in collaboration with Taipei Fubon Commercial Bank (Hà Nội branch) and First Commercial Bank (HCM City branch).

EVN NPC is one of the five electricity distribution corporations of the Việt Nam Electricity Group, with management area of 27 provinces in the North and North Central regions (excluding Hà Nội).

The corporation aims to further develop the grid to meet annual growth rate of 13-15 per cent from now until 2020.

The successful signing will help EVN NPC carry out investment activities to upgrade and expand distribution network in the future.

Taipei Fubon Commercial Bank and First Commercial Bank, two of Taiwan’s leading banks, have pledged to provide financial support to companies and corporations, supporting the development of Việt Nam’s economy.

This agreement is also one of the first syndicated loans arranged by local banks with full co-financing from foreign bank branches in Việt Nam. — VNS

 

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