Loan limits raised for key hydro power project
The Governor of the State Bank of
Vietnam (SBV) has approved proposals from three commercial banks to
allow them to exceed their chartered capital by 15 percent on loans to
the Huoi Quang hydro-power project in the mountainous northern province
of Lai Chau.
The Governor of the State Bank of
Vietnam (SBV) has approved proposals from three commercial banks to
allow them to exceed their chartered capital by 15 percent on loans to
the Huoi Quang hydro-power project in the mountainous northern province
of Lai Chau.
The three banks are the Bank for Foreign Trade of Vietnam (Vietcombank), the Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank).
Under the decision, Vietcombank is allowed to lend a maximum of almost 12.487 trillion VND and 26.34 million USD. Loans from the BIDV will be just over 13.314 trillion VND, while Agribank may extend loans worth almost 10.54 trillion VND and 39.5 million USD, at the most.
The State Bank of Vietnam made it clear that the lending permissions given to the three banks on the Huoi Quang hydro power project is special and not applicable to any other cases.
The lending will be made through the Electricity of Vietnam Corporation, the project investor, said the SBV chief./.
The three banks are the Bank for Foreign Trade of Vietnam (Vietcombank), the Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank).
Under the decision, Vietcombank is allowed to lend a maximum of almost 12.487 trillion VND and 26.34 million USD. Loans from the BIDV will be just over 13.314 trillion VND, while Agribank may extend loans worth almost 10.54 trillion VND and 39.5 million USD, at the most.
The State Bank of Vietnam made it clear that the lending permissions given to the three banks on the Huoi Quang hydro power project is special and not applicable to any other cases.
The lending will be made through the Electricity of Vietnam Corporation, the project investor, said the SBV chief./.
You should also see
Semiconductor workforce development a breakthrough: PM
Human resources development in semiconductors should be considered a breakthrough in personnel training, Prime Minister Pham Minh Chinh said at a conference in Hanoi on April 24.
See more
Business
Ca Mau: Conference connects Vietnamese, Chinese firms
A networking conference was held in the Mekong Delta province of Ca Mau on April 24, in a bid to connect 54 local enterprises, mostly operating in the seafood sector, to their Chinese peers.
Business
Mining Vietnam 2024 opens in Hanoi
The 6th International Mining and Minerals Recovery Exhibition for Vietnam (Mining Vietnam 2024) kicked off in Hanoi on April 24.
Business
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
Standard Chartered Bank has lowered Vietnam’s GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.
Business
Auction for gold bullion to continue on April 25
Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.
Business
Over 20,000 products exhibited at Global Sourcing Fair Vietnam 2024
The Global Sourcing Fair Vietnam 2024 hosted by Global Sources kicked off in Ho Chi Minh City on April 24 with the participation of over 400 Vietnamese exhibitors and those from other Asian nations who are showcasing over 20,000 export-standard products across various industries.
