VietcomBank signed a US $ 200 million credit agreement to support the renewable energy project

A credit package of USD 200 million in cooperation to finance capital for solar and wind power projects in Vietnam has been recently approved by Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank) and Japan International Cooperation Bank ( JBIC) signed on June 25, in Hanoi.

Representatives of both parties exchanged the signing minutes

This is a syndicated credit facility because JBIC is the leading bank to arrange capital and four leading commercial banks in Japan are MUFG Bank, Ltd., Mizuho Bank, Ltd., The Joyo Bank, Ltd., and The Nishi-Nippon City Bank, Ltd. The term of the loan is up to 14 years, in accordance with the demand for loans to invest in green energy projects in Vietnam.

The credit contract between Vietcombank and JBIC does not only mean cooperation between the two leading financial institutions of the two countries but also a symbol of cooperation between Vietnam and Japan to contribute to sustainable socio-economic development. solid, environmental protection, enhance the image of Vietnam as a reputable, safe and friendly investment destination.

JBIC is a policy bank under the Japanese Government, the main task of JBIC is to promote sustainable socio-economic development in Japan, as well as internationally. During its operation in Vietnam, JBIC always strives to contribute to the socio-economic development of Vietnam, promoting economic exchanges between businesses of the two countries, thereby strengthening cooperative relations. strategy, tradition between Vietnam and Japan.

JBIC has effectively implemented the promotion of foreign investment of Japanese enterprises into Vietnam, encouraging investment activities associated with the purpose of protecting the environment, promoting funding for infrastructure projects. important in Vietnam.