The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has officially completed a plan to reduce its holding ratio at other credit institutions to below 5% as required by the central bank.
While Vietnam will no longer receive preferential loans from the World Bank and the Asian Development Bank starting this year, the gigantic European Investment Bank is amplifying its presence in the country, with loans offered at an interest rate of almost 0 per cent and focused on infrastructure projects.
Hanoi hopes to continue having the European Investment Bank (EIB)’s company in developing its urban railway system, Vice Chairman of the municipal People’s Committee Nguyen The Hung told Vice President of the bank Jonathan Taylor at their working session in Hanoi on January 10.
Deputy Prime Minister Trinh Dinh Dung has called for more support from the European Investment Bank (EIB) to Vietnam’s projects, including those in transport infrastructure, energy, climate change response and sea level rise.
A high-level delegation from the European Investment Bank (EIB) – the world’s largest international public bank – led by its Vice President Jonathan Taylor is on a working visit to Hanoi from January 8-10, the Delegation of the European Union to Vietnam said on January 9.
Ho Chi Minh City’s Management Board of Urban Railways (MBUR) has submitted a proposal to the city’s People’s Committee on the construction and investment policy for the first stage of the Urban Metro Line No. 5 project, from Bay Hien intersection in Tan Binh district to Saigon Bridge.
The Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has dismissed rumours of being placed under special supervision by the central bank or that its chairman had been arrested.
The Asian Development Bank (ADB) and the European Investment Bank (EIB) will provide EUR200 million (US$260 million) for Ho Chi Minh City to build its fifth metro line.