Czech Export Bank, VNese Bank to Finance Almost $1 Bln for Projects

The Czech Export Bank (CEB) and the Bank of Investment and Development of Viet Nam (BIDV) will provide funding worth US$956.25 million to four infrastructure and beverage projects in Viet Nam.

The largest loan worth $720 million will go to construction of a highway in the south. The $1.2 billion 80-km highway will start from My Thuan of Tien Giang Province to Can Tho City, with both in the Mekong Delta.

The two banks have also agreed to lend $33.75 million to build a bus system in the Van Phong Bay Industrial Zone in the central province of Khanh Hoa. This financing is equal to 75% of the $45 million project.

CEB and BIDV agreed to finance $135 million for a 180 million project to build a waste treatment plant and a power plant in Khanh Hoa Province.

As for the last deal, $67.5 million from the two banks will go to construction of $90 million brewery in the southern province of Binh Duong. The facility’s designed capacity is 200 million liters of beer per year.

The four financial deals were signed on March 21 during a visit to Ha Noi by Czech Prime Minister Mirek Topolanek. 

By Ham Yen, translated by Thuy Nguyen

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