Eight banks on June 11 signed agreements to provide services that help link subjects involved in construction and traffic development, local press reported.

BIDV, Agribank, Vietinbank, Vietcombank, VNCB, SHB, LienVietPostBank and MHB make the up the eight. They will connect with each other as well as associate investors, contractors and building material suppliers.

The move follows a scheme of the State Bank of Vietnam, which aims to foster transparency and publicity in the construction and traffic areas. This will help improve market confidence and revive real estate investments and operations.

On June 11, some of the banks were committed to financing about 6.15 trillion VND, or 292.86 million USD, for four projects, which have a combined investment capital of nearly 7.78 trillion VND, or 370.48 million USD.

BIDV will fund about 1.45 trillion VND, or 69.05 million USD, for a cultural park in central Da Nang city worth 2.1 trillion VND, or 100 million USD.

This bank will also reserve 1.36 trillion VND, or 64.76 million USD, for a national highway expansion project in the Central Highlands province of Gia Lai, which costs nearly 1.78 trillion VND, or 84.76 million USD in total.

SHB will finance over 1 trillion VND, or 47.62 million USD, for a highway project in central Quang Nam province, which requires nearly 1.26 trillion VND, or 60 million USD, in total investment.

Vietinbank will sponsor about 2.34 trillion VND, 111.43 million USD, to implement a highway project in central Khanh Hoa province worth 2.64 trillion VND, or 125.71 million USD. The banks said they expected the linkage to benefit end users and the economy.-VNA