ODA on-lending credit contract for the Man Thang hydropower Project

18/05/2020 12:05

On may 15th, 2020, Vietnam Development Bank’s Ha Giang branch has signed an ODA on-lending credit Contract to the Man Thang hydropower project with a total committed amount of 226 billion VND for a maturity of 11.5 years. Principal repayment time is 10.1 years.

 This 9,5 MW capacity project located in Tan Nam commune, Quang Binh district, Ha Giang province - an underdeveloped area, has the average power production of 34.398 million kWh /year. Once in operation, it will provide electricity to the national grid, contributing to socio-economic development, creating jobs for local employment, promoting economic restructure and socio-economic development, poverty reduction in the province.

 Addressing at the signing ceremony, Mr. Hoang Trong Nam - Director of Tan Nam Hydropower Joint Stock Company - project owner, expressed his thanks to the Vietnam Development Bank and Ha Giang branch for the support to the project; The company pledged to use the loan proceeds effectively, for the right purpose, and soon put the project into commercial operation in the fourth quarter of 2020./.

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