AFD finances EUR113 million for Vietnam

17:08 | 26/05/2014 Economy

(VEN) - Deputy Minister of Planning and Investment Nguyen Van Trung and French Development Agency (AFD) Vietnam Director RÐmi Genevey signed a Memorandum of Understanding on grant agreement on May 22 in Hanoi.

Loans and non-refundable aid will be directly given to Vietnamese businesses and organizations that have met all necessary conditions without any financial guarantee. AFD is an only agency proposing this type of sponsor.

In 2010, AFD offered a trial loan package of US$100 million to the Electricity of Vietnam (EVN) to construct the Huoi Quang Hydropower Plant. AFD will continuously offer a loan package of EUR113 million to four new projects in 2014./.

Nguyen Huong