MoF to guarantee French loans

MoF to guarantee French loans
Published: 15 August 2005

The Vietnameses Ministry of Finance has been approved by the Prime Minister to sign a guarantee letter with France’s BNP Paribas Bank for a loan to finance the Thai Nguyen Cement Plant. Accordingly the loan, whose value has not been revealed, will be guaranteed by the Government of Vietnam.

The under-construction Thai Nguyen Cement Plant needs a total investment of VND2.8 trillion (US$176m). It has a designed capacity of 1.5Mta and is slated for completion by 2007. The project has recently also received loans worth VND376.9 billion (US$23.9m)  from the Bank for Investment and Development of Vietnam (BIDV) and the Bank for Agriculture and Rural Development of Vietnam (Agribank). It also received funds from overseas banks and the Development Assistance Fund.