Ha Giang Branch of VDB Signs State Investment Credit Contract
22/08/2025 12:08
On August 19, 2025, the Ha Giang Branch of the Vietnam Development Bank (VDB) signed a credit contract with HLC Energy Joint Stock Company to provide state investment credit for the HuaBe Hydropower Project. The total loan amount under the signed contract is VND 270,000 million, with a maximum loan term of 19 years.
The HuaBe Hydropower Project is expected to begin commercial operation in October 2026. It is classified as a Group C project and a Grade III hydropower energy facility. The project consists of two turbines with an installed capacity of 10 MW and an average annual electricity output (Eo) of 34.12 million kWh. Located in Phuc Khoa Commune, Tan Uyen Town, Tan Uyen District, Lai Chau Province—an area with especially difficult socio-economic conditions—the project aims to supply electricity to the National Grid (approximately 34.12 million kWh annually), increase state budget revenues, and contribute to the socio-economic development of the local area.
On the same day, the Ha Giang Branch of VDB and CONFITECH East Hanoi Joint Stock Company held a signing ceremony for a Cooperation Agreement on state investment credit financing for projects invested in by the company that are included in the eligible loan portfolio and meet the lending conditions under Decree No. 78/2023/ND-CP dated November 7, 2023, amending and supplementing a number of articles of Decree No. 32/2017/ND-CP dated March 31, 2017 of the Government on state investment credit. According to the cooperation agreement, the total financing to be provided based on the company’s demand is expected to reach approximately VND 5,000 billion during the 2025–2028 period, for investment in projects in renewable energy, social housing, and other sectors./.