Overview

CDB provides $200 million loan to PVCombank for on-lending purposes

Commitments (Constant USD, 2023)$140,881,481

Commitment Year•2018Country 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: Jan 1, 2018

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

Vietnam Public Joint Stock Commercial Bank (PVCombank)

Implementing agencies

State-owned Banks

Vietnam Public Joint Stock Commercial Bank (PVCombank)

Loan description

CDB provides $200 million loan to PVCombank for on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On August 29, 2011, China Development Bank (CDB) and Vietnam Public Joint Stock Commercial Bank (PVCombank) — a state-owned commercial bank in Vietnam — signed one or more loan agreements worth $140 million for on-lending purposes. The borrowing terms of the loan are unknown.

Staff comments

1. The Vietnam Public Joint Stock Commercial Bank (PVcomBank) is a state-owned commercial bank. The state-owned Vietnam Oil and Gas Group (PetroVietnam) holds a 52 percent ownership stake in PVcomBank.