The Nordic Investment Bank (NIB) and the Ministry of Finance have signed a EUR 25m credit agreement for the expansion of Vietnam’s Hoang Thach cement factory.
The Bank for Investment and Development of Vietnam was assigned to receive and manage the credit.
The credit helps bring the total capital NIB has pledged for Vietnm’s development projects to US$345m since 1996, said the bank.
NIB - a multilateral financial financing institution established by the five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden - has sponsored many large projects in Vietnam such as the Song Hinh hydro-electric plant, the Bai Bang paper mill, the Tam Diep cement factory and the Ha Long cement factory.
It has also provided loans to the power, coal and private sectors in the country.