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| VietinBank and EVN signs the comprehensive and strategic cooperation agreement in Ha Noi.— Photo VietinBank |
HA NOI (Biz Hub) — The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and the Electricity of Viet Nam (EVN) signed a comprehensive and strategic cooperation agreement on April 21.
Leaders of the bank and the group said the cooperation, to cover the 2014-2020 period, would open up opportunities for further investment and development cooperation between the two sides.
According to EVN, among the 30 credit institutions associated with the group, VietinBank has so far pledged and given the largest amount of VND60 trillion, or US$2.85 billion, to EVN and its unit members' activities such as electricity generation, transmission and distribution projects.
The bank has so far disbursed VND4.5 trillion, or $214.2 million, for the Son La Hydropower Plant, Southeast Asia's largest hydroelectric project which was made operational in 2012. It has also disbursed VND5 trillion, or $238 million, for the Duyen Hai 3 Thermal Plant and VND800 billion, or $38 million, for the Ban Ve hydropower project.
VietinBank also invested in the construction of the 500kV Pleiku-My Phuoc-Cau Bong and other lines and transformers.
Besides providing modern banking services, Vietinbank also gave EVN's projects incentivised policies and a prioritised forex rate. The bank also supports EVN in collecting electricity bills to serve the customer better. — VNS