The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) and the Japan Bank for International Co-operation (JBIC) signed a contract to finance a capital of US$300 million to support renewable energy projects in Ha Noi on Wednesday.

After successfully implementing a $200 million credit package signed in June 2019, that JBIC and major Japanese banks continue to provide a second loan worth $300 million to Vietcombank further affirms the bank's prestige to international financial institutions; at the same time, affirming the close co-operation relationship between JBIC and Vietcombank in contributing to sustainable economic development, promoting regional integration and environmental protection in Viet Nam.

Speaking at the ceremony, Nguyen Thanh Tung, Vietcombank General Director, said that the signing ceremony to support renewable energy projects was an important affirmation of the positive assessment from international financial institutions for the stability and economic development of Viet Nam; confidence in banking and financial activities in the country in general and Vietcombank in particular.

The loan will support green energy and environmental protection projects in Viet Nam, one of the areas cared by the Party and Government.

The loan is a symbol of the long-term co-operation between Vietcombank and JBIC for sustainable development in Viet Nam, enhancing the country's image as a reputable, safe and friendly investment destination, thereby contributing to further bringing the co-operation relationship between Viet Nam and Japan to a new height.

Based on the terms of the contract, Vietcombank will work with JBIC to optimise the positive social and environmental impacts of the loan. — VNS