Overview

CDB provides $1.05 billion loan to Vietnam Oil and Gas Group (Petrovietnam) for unspecified purposes

Commitments (Constant USD, 2023)$1,350,445,397

Commitment Year•2010Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2010

Geospatial footprint

Map overview

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This project provides a loan to Vietnam Oil and Gas Group (Petrovietnam), which is located at 18 P. Láng Hạ, Thành Công, Ba Đình, Hà Nội, Vietnam. More detailed locational information can be found at https://www.openstreetmap.org/way/841374814.

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 companies

Vietnam Oil and Gas Group (Petrovietnam or PVN)

Loan desecription

CDB provides $1.05 billion loan to Vietnam Oil and Gas Group (Petrovietnam) for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, China Development Bank (CDB) signed a $1.05 billion loan agreement with Vietnam Oil and Gas Group (Petrovietnam) — a state-owned oil and gas company in Vietnam — for unspecified purposes. The borrowing terms of the loan are unknown. AidData independently confirmed the existence of this loan agreement via correspondence with a Beijing-based law firm that served as an adviser on the transaction.