VDB, EVN sign loan agreement for power projects

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The Vietnam Development Bank (VDB) and the Electricity of Vietnam (EVN) have signed a credit contract for the construction of the Vinh Tan 2 and Duyen Hai 1 thermo-electric plants. VDB will provide EVN with a VND2.5 trillion loan in addition to the previous credit agreement signed between the two institutions amounting to VND 5 trillion. Vinh Tan 2 and Duyen Hai 1 have a combined capacity of 2,400 MW and are part of the national master plan to develop power sources up until 2015 to contribute further to the electricity system of the southern region of Vietnam. According to Mr. Nguyen Quang Dung, VDB General Director, about 39% of the Bank’s total outstanding are for power projects, 45.6 % of which for EVN. At the end of 2012, EVN has over 80 power supplies and grid projects sponsored by the VDB with a total commitment amount up to VND 36, 9 trillion. They included key national projects as Son La, Lai Chau, Huoi Quang and Ban Chat hydroelectric plants.

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