HDBank chosen to support ODA projects

September 06, 2018 - 03:00

HDBank has been chosen as the bank to disburse World Bank and Asian Development Bank loans worth a total of $250 million to two projects.

HDBank will disburse $250 million provided by the World Bank and Asian Development Bank for two projects. — Photo courtesy of HDBank

Viet Nam News

HCM CITY — HDBank has been chosen as the bank to disburse World Bank and Asian Development Bank loans worth a total of US$250 million to two projects.

The two are the Việt Nam Energy Efficiency for Industrial Enterprises (VEEIE) and the Basic Infrastructure for Inclusive Growth (BIIG 2) in four provinces of Nghệ An, Hà Tĩnh, Quảng Bình and Quảng Trị.

The State Bank of Việt Nam has assigned the lender to support technical components of the VEEIE project using $100 million provided by the World Bank’s International Development Association.

The ADB has provided almost US$150 million for the BIIG 2 project repayable over 20 years.

With its prestige and financial strength, the bank has won authorities’ trust and been involved with many projects funded by multilateral agencies.

As of the end of last year it had supported six ODA-funded projects worth over $500 million, similarly disbursing soft loans given by multilateral and bilateral institutions. — VNS

Tags Vietnam HCM City world bank HDBank Vietnam News Asian Development Bank news ODA - funded project

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