France to pour first non-sovereign loans in Vietnam
The French Agency for Development (AFD) will provide eligible Vietnamese businesses and organisations with EUR113 million in loans and non-refundable aid this year, as part of its non-sovereign package launched in Vietnam for the first time.
A memorandum of understanding to this effect was signed in Hanoi on May 22 by Deputy Minister of Planning and Investment Nguyen Van Trung and AFD Director Remi Genevey, under which the sum will go to four projects.
In 2010, AFD offered a trial loan package of US$100 million to Huoi Quang hydropower plant, managed by the Electricity of Vietnam.
Operational in Vietnam since 1994, AFD has to date committed EUR1.5 billion to 76 projects in the country. For the past five years, its annual average commitment has reached nearly EUR100 million.