The US Export-Import Bank (Ex-Im Bank) wants Vietnam and the US to cooperate in more projects this year.

At talks between US banking and energy leaders and Ambassadors of ASEAN member countries in Washington on January 17, the two sides discussed the development of the bloc’s energy infrastructure and orientations to implement the US–Asia Pacific Comprehensive Partnership for a Sustainable Energy Future, as adopted by US President Barack Obama and ASEAN leaders at their Summit in Phnom Penh last November.

US Ex-Im Bank Chairman Fred Hochberg said six billion USD has been amassed for the initiative over the next five years. Five billion USD is from Ex-Im Bank to facilitate exports at preferential rates. The remaining one billion USD is from the Overseas Private Investment Corporation (OPIC), while the US Trade and Development Agency (USTDA) and the capacity building fund under the charge of the US Department of the State will provide technical assistance worth 1 million USD.

An OPIC representative said the group pays special attention to renewable energy technology transfer projects.

Vietnamese Ambassador to the US Nguyen Quoc Cuong and his ASEAN counterparts said the initiative will enhance US-ASEAN cooperation, and meet the growing energy demand in the region.

Cuong suggested the US side put forward specific measures regarding preferential interest rates, equipment cost and technology to effectively implement the initiative.-VNA