Signing ceremony of ODA on-lending contract at VDB Dong Nai branch

18/05/2018 04:05

On May 17th, 2018, Vietnam Development Bank’s Dong Nai branch and the College of Machinery and Irrigation have held a signing ceremony of ODA on-lending contract to finance project namely “Program to improve technical education and vocational training at High quality technical education and training center”. They have also signed a mortgage contract to use property generated in future from the project to secure the loan.

The project has a total investment of nearly VND282 billions of which, VND226 billion (9,1 million EUR) from German  ODA (through KfW) and VND56 billion from Vietnam’s counter funding; 90% of the ODA funding source is allocated via State Treasury and 10% via VDB.
As the signed contract, the maximal commitment to be on-lent by VDB Dong Nai branch to the College is 910.000 EUR (10% of ODA funding)
With the recently signed contract, VDB Dong Nai branch is managing 04 customers for 07 ODA projects with total outstanding loans of about VND1.756 billion./.

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