EVN and BIDV signs the cooperation agreement in Ha Noi on April 24.— Photo VNS

HA NOI (Biz Hub) — The Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) and the Electricity of Viet Nam (EVN) signed a comprehensive cooperation agreement on April 24.

Under the agreement, BIDV committed to provide its best banking products and services for EVN so that the national electricity group could operate its works quickly and conveniently.

In a more detailed action, BIDV,in the same day, signed the lending of VND6 trillion (US$285 million) to EVN's Power Generation Corporation 3 (Genco 3) for the construction of Vinh Tan 4 Thermal Power Plant in the Binh Thuan Province.

According to Genco 3, the plant is one of the most important and urgent projects that approved by the Prime Minister in order to meet the local demand of electricity. It is one of four thermal power plants with a combined capacity of 5,600 MW to generate power mostly for the southern central region and localities in the south.

Phan Duc Tu, general director of the bank said the cooperation between the two sides in general and the lending in particular had been marked as a progress in the strategic relations between the bank and the group.

Three days earlier EVN also signed a comprehensive and strategic cooperation agreement with Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), which has so far pledged and given the largest amount of VND60 trillion ($2.85 billion) to serve the groups and its members' activities.— VNS