The Prime Minister has approved a financial mechanism for a project to expand electricity grids in Hanoi and Ho Chi Minh City through loans from the Asian Development Bank (ADB) and the ASEAN Infrastructure Fund (AIF).
Under the mechanism, the Government will sign a deal with the ADB and the AIF to receive a loan of 272.70 million USD, which will then be re-loaned to the Electricity of Vietnam (EVN) Hanoi and the EVN HCM City under similar conditions and terms but with additional expenses.
The EVN Hanoi and EVN HCM City are responsible to provide corresponding capital.
The national EVN will be responsible for the debts in the event the EVN Hanoi or EVN HCM City fault on their loans.-VNA
Under the mechanism, the Government will sign a deal with the ADB and the AIF to receive a loan of 272.70 million USD, which will then be re-loaned to the Electricity of Vietnam (EVN) Hanoi and the EVN HCM City under similar conditions and terms but with additional expenses.
The EVN Hanoi and EVN HCM City are responsible to provide corresponding capital.
The national EVN will be responsible for the debts in the event the EVN Hanoi or EVN HCM City fault on their loans.-VNA
