VDB signed a cooperation agreement with Aqua One to provide loans for the Huong Phung Hydropower project.

Cooperation agreement with Aqua One

According to the agreement, the two sides agreed to strengthen coordination in appraising and funding effective investment projects in line with the Government's socio -economic development orientation.

VDB committed to considering funding State investment credit capital with a total scale of nearly VND 30,000 billion for projects implemented by Aqua One Water Joint Stock Company and its member units in the period 2025 - 2036.

Within the framework of cooperation, VDB Dak Lak Branch is identified as the focal point for direct contact and work with customers, responsible for receiving the list of investment projects, expected loan needs, status and progress of project implementation of Aqua One and its member units, and reporting to VDB for appraisal, consideration and decision on lending according to current regulations.

The two sides identified themselves as comprehensive cooperation partners, wishing to develop in areas suitable to each side's capacity, strategy and strengths. The parties committed to maintaining long-term and effective cooperation, aiming at the goal of VDB and Aqua One increasingly developing, actively contributing to the country's socio-economic development.

Speaking at the ceremony, a representative of VDB affirmed: “The cooperation between VDB and Aqua One is a testament to the efforts to realize the State's investment credit policy, and at the same time demonstrates the bank's role in accompanying businesses in developing infrastructure and sustainable energy.”

Aqua One Group representative shared: “Aqua One always aims for projects that have a positive impact on the environment and the community. Cooperating with VDB will open up great opportunities for water supply, water treatment and clean energy projects to be implemented effectively, in line with the Government 's direction.”

Credit contract with Huong Phung Hydropower Project

Immediately after the signing ceremony of the Cooperation Agreement between VDB and Aqua One, Vietnam Development Bank - Dak Lak Branch continued to organize the signing ceremony of the Credit Contract to finance the Huong Phung Hydropower Project with Quang Tri Energy Joint Stock Company.

Huong Phung Hydropower Project has a total investment of 715 billion VND, loan capital from VDB is 495 billion VND, with installed capacity of 18 MW, deployed in Quang Tri province. This is an energy project of important significance in developing clean power sources, effectively utilizing the local hydropower potential, contributing to ensuring national energy security and promoting socio-economic development in the Central region.

VDB's funding for the Huong Phung Hydropower project demonstrates the policy bank's strong commitment to accompanying businesses investing in the renewable energy sector, in line with the Government's green and sustainable development orientation.

The two signing events held at the same ceremony demonstrate VDB's vision, prestige and cooperation capacity in implementing the State's investment credit policy, while affirming the trust and determination of Vietnamese enterprises in the journey of sustainable development.

(Source: VDB)

Source: https://vietnamnet.vn/vdb-ky-hop-tac-voi-aqua-one-cho-vay-von-du-an-thuy-dien-huong-phung-2462130.html