Hung Le
Representatives of BIDV and the Lao Ministry of Finance sign the credit deals last week - PHOTO: BIDV
The loans will go to a road project worth US$26.84 million and an infrastructure development project worth US$120 million, raising the total value of loan pacts signed between BIDV and the Lao government to US$200 million. Both projects will be implemented in Houaphan Province in the neighboring country.
Besides, the US$30-million loan for an irrigation dam in Luang Namtha Province is still under negotiation and the two sides look set to clinch a deal next month.
BIDV will disburse the loans early next month and expects the Lao government to finish the entire projects in the second quarter of 2017.
Under the cooperation agreements between Vietnam and Laos, the governments of the two countries have agreed on assigning BIDV to study plans to provide loans for the projects.
According to BIDV, the loans have an average term of 15 years and a fixed interest rate of 3% per year.
Loans for the projects, especially the road one, will help connect border gates of Vietnam’s Nghe An and Thanh Hoa provinces to Laos; promote economic development, trade, investment and tourism links among localities of Vietnam and northern localities of Laos.
Đăng ký: VietNam News