Deputy PM agrees to mobilize and use loans from KfW Bank

VNGOP – Acting on behalf of the PM, Standing Deputy PM Nguyễn Sinh Hùng has just agreed with the suggestion of the Vietnam Development Bank to mobilize and use loans from the German bank KfW.

May 09, 2007 7:19 AM GMT+7

Accordingly, the Deputy PM agreed in principle that the Vietnam Development Bank will negotiate with KfW Bank, taking into account the recommendations from the ministries of Finance, Planning and Investment, and the State Bank of Vietnam, in order to obtain best lending conditions and proper interest rate. The loans will be repaid by the Vietnam Development Bank.

The Deputy PM also assigned the Ministry of Finance to consider and guarantee the loans.

By Xuân Hồng