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EVN, German bank discuss loan agreement for hydropower plant project

Vietnam Electricity (EVN) Group and Germany’s KfW Development Bank on July 26 discussed a loan agreement for Tri An Hydropower Plant Expansion Project, expecting to sign the deal in November.
EVN, German bank discuss loan agreement for hydropower plant project ảnh 1At the working session between EVN and KfW Development Bank. (Photo: VNA)
Hanoi (VNA) – Vietnam Electricity (EVN) Group andGermany’s KfW Development Bank on July 26 discussed a loan agreement for TriAn Hydropower Plant Expansion Project, expecting to sign the deal in November.

The signing of the loan agreement is expected to take place on the occasionof the Government-level negotiation meeting on Vietnam-Germany development cooperation.

The Tri An Hydropower Plant Expansion Project is thefirst in which KfW is planning to provide a direct loan to EVN without government guarantee.

Since 2022, after multiple exchanges, the two sideshave basically agreed on fundamental and most important borrowing conditions ofthe loan agreement.

At the meeting in Hanoi with Frank Bohnet, Director forEast Asia - Southeast Asia of KfW, EVN Deputy General Director Nguyen Xuan Namexpressed his hope that the two sides will make efforts in harmonisingprocedures to accelerate the signing.

EVN is also preparing for some new OfficialDevelopment Assistance (ODA) loans, which are expected to use the ODA fundingfrom the German government, covering green energy and renewable energy, hesaid, noting his hope that KfW will continue to support and arrange loans forthese new ODA projects.

For his part, Bohnet affirmed that EVN is one of KfW'smost important partners in Vietnam, stressing KfW commits to closely coordinatingwith EVN to further implement priority projects of both parties in the timeahead, including both ODA projects and those without government guarantee.

Since 2009, KfW has committed ODA and non-Governmentguaranteed loans worth 1.5 billion EUR (1.66 million USD) to EVN./.
VNA
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