Export-Import Bank of the US (EXIM)'s President and Chair Reta Jo Lewis and Vietnam Development Bank (VDB)'s Chairman Lê Văn Hoan at the signing ceremony on Monday. — Photo courtesy of US Ambassy

Export-Import Bank of the United States (EXIM) and Vietnam Development Bank (VDB) on Monday signed a US$500 million Memorandum of Understanding (MOU) to facilitate the financing of US exports to Việt Nam.

The MOU will encourage collaboration between EXIM and VDB and will support the US export financing to advance green economy transition, infrastructure development projects and climate related projects. The ceremony was hosted by VDB at its headquarters in Hà Nội.

“The MOU we signed demonstrates our shared commitment to strengthening the US-Việt Nam commercial relationship and dedication to creating opportunities that strengthen the economies of both our nations,” said EXIM's President and Chair Reta Jo Lewis.

“We are excited to collaboratively seek financing opportunities to advance mutually beneficial projects and support the US exporters looking to do business in Việt Nam,” she said.

Vietnam Development Bank (VDB)'s Chairman Lê Văn Hoan said the cooperation of the two organisations will contribute to enhance economic exchanges between the two countries.

“I believe that the signing of MOU today will strengthen our co-operative relationship, laying the foundation for potential collaboration opportunities. This will contribute to aiding both organisations in successfully accomplishing the tasks entrusted by our respective governments," Hoan said.

EXIM will work closely with the VDB to identify infrastructure, renewable, and other projects to help spur the green transition in Việt Nam. The MOU signing also demonstrates the US commitment to assisting Việt Nam with financing solutions for the green energy transition to fulfill its ambitious climate goals. — VNS