Vietcombank, JBIC sign contract for renewable energy projects
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Japan Bank for International Cooperation (JBIC) have signed a 200 million USD credit contract to finance renewable energy projects in Vietnam.
Vietcombank and JBIC sign a credit contract to finance renewable energy projects in Vietnam (Source: VNA)
Hanoi (VNA) - The Joint Stock Commercial Bank for Foreign Trade of Vietnam(Vietcombank) and the Japan Bank for International Cooperation (JBIC) havesigned a 200 million USD credit contract to finance renewable energy projectsin Vietnam.
Accordingly,JBIC will arrange loans from four leading commercial banks in Japan includingMUFG Bank Ltd, Mizuho Bank Ltd, the Joyo Bank Ltd and the Nishi-Nippon CityBank Ltd with terms of 14 years for green energy projects in the SoutheastAsian country.
Speakingat the signing ceremony on June 25, Vietcombank General Director Pham Quang Dungsaid the signing of the contract was an important landmark for the relationshipbetween the two sides and opened a new period for cooperation to fullyexploit their potential.
KazuhisaYumikura, managing executive officer and global head of Infrastructure and EnvironmentFinance Group of JBIC, said JBIC had been making efforts to expandfunding methods for the renewable energy sector. Last July, JBIC launched itsGlobal Facility to Promote Quality Infrastructure Investment for EnvironmentalPreservation and Sustainable Growth (QI-ESG) and expects to launch moreprojects aimed at protecting the environment.
In recentyears, green credit has become a common global trend and hasplayed an important role in promoting sustainable socio-economicdevelopment as well as contributing to realising green growth strategiesin different countries.-VNA
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Vietcombank and JBIC sign a credit contract to finance renewable energy projects in Vietnam (Source: VNA) 
