BIDV borrows US$200 mln from China’s development bank
The Bank for Investment and Development of Vietnam (BIDV) on November 5 signed an agreement to secure a five-year loan worth US$200 million from the China Development Bank (CDB).
The financial resource will enable BIDV to improve its capacity of financing middle and long term loans for economic development projects.
On the same day, the two banks also signed a comprehensive cooperation agreement.
Accordingly, BIDV and CDB will cooperate in granting credits and co-fund projects of the two sides’ clients.
The agreement also covered the fields of investment opportunities, international payments, sponsorship for trade, and foreign currency exchange.
The issue of participating in the China -ASEAN Inter- Bank Association (CAIBA) was also mentioned.