ODA on-lending contract for 3rd phase of power transmission grid project

03/12/2019 08:12

On November 29, 2019, in Da Nang City, the Vietnam Development Bank’s Quang Nam-Da Nang area branch and National Power Transmission Corporation has signed ODA on-lending contract for the power transmission grid project – 3rd phase .

This 3rd phase approved by the Prime Minister consists of 9 sub-projects connecting power grid from provinces of South Central Coast, Southeast to Southwest with a total investment capital of USD 462 million (VND 10.013 billion) of which ADB financing is over USD 146.5 million (about VND 3.200 billion). This ADB financing package was on lent through VDB under MOF authorization for a maximum tenor of 30 years.

At the signing ceremony, ADB representative in Viet Nam highly appreciated VDB's cooperation and go along activities in ADB financing projects under on lent scheme and expressed wishes to continue cooperation with VDB for future projects in Vietnam./.

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