Overview

China Development Bank provides $200 million loan to Bank for Investment and Development of Vietnam (BIDV) for on-lending purposes

Commitments (Constant USD, 2023)$209,239,676

Commitment Year•2015Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 5, 2015

Last repayment (originally scheduled): Dec 31, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned Banks

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)

Implementing agencies

State-owned Banks

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)

Loan description

China Development Bank provides $200 million loan to Bank for Investment and Development of Vietnam (BIDV) for on-lending purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On December 22, 2011, China Development Bank (CDB) signed a letter of intent to issue a $200 million loan to Bank for Investment and Development of Vietnam (BIDV)— a state-owned bank— for on-lending purposes. The loan was to carry a 5-year maturity but no additional borrowing terms are available. Then, on November 5, 2015, CDB and BIDV signed the final $200 million loan agreement. The proceeds of the loan were to be used by BIDV to on-lend in support of economic development projects (power, telecommunication, agricultural, transport, construction) in Vietnam. This was the second credit package that CDB granted to BIDV following a $100 million loan in 2010 (see Record ID#85378).