Signing credit contract to finance 440 billion VND for 02 hydropower projects in Ha Giang

05/06/2024 12:06

On May 31, 2024, at its office, the Viet Nam Development Bank’s branch of Ha Giang with Tay Con Linh Investment and Development Joint Stock Company have held a credit contract signing ceremony to finance VND440 billion State investment credit capital to 02 hydropower projects of Tung San 1 (Capacity 7MW) and Tung San 2 (Capacity 10MW) with loan term of 18 years.

      Mr. Nguyen Viet Long - Deputy Director of the State Bank of Vietnam Ha Giang branch; Mr. Le Van Hoan - Party Committee Secretary, VDB Chairman of the Board of Directors; Mr. Nguyen Chinh Tuan – VDB Member of the Board of Directors, along with leaders and officers of VDB’s risk management Department and credit Department have attended and witnessed the ceremony.

     Located in Tung San and Tan Tien communes, Hoang Su Phi district, Ha Giang province - particularly difficult socio-economic condition area, Tung San 1 and Tung San 2 hydropower projects have a total installed capacity of 17MW, producing an annual average of electricity output (Eo) of 52.6 million kWh/year. Once in operation, these projects are to provide electricity to the national grid, contributing to socio-economic development, creating jobs for local labors, eliminating hunger and reducing poverty in the area.
     Tung San 1 and Tung San 2 are the first projects funded by VDB according to Decree No. 78/2023/ND-CP dated November 7, 2023 of the Government amending and supplementing a number of articles of Decree No. 32/2017/ND-CP on State investment credit. This credit contract signing has a particularly important signification as it marked VDB’s efforts in process of restructure, renovation to better Vietnam business in the aiming of developing the country./.

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