BIDV to lend $900m to coal group

The State-owned Viet Nam National Coal and Mineral Industries Group (Vinacomin) will get loans totally worth VND19.3 trillion (US$900 million) over a five-year period.

The coal firm won the agreement with the Bank for Investment and Development of Viet Nam (BIDV) on Thursday.

In another development, BIDV yesterday began to provide preferential loans at an interest rate of 9 per cent.

The beneficiaries of the short-term loans include small- and medium-d enterprises and rural and agriculture firms, exporters, and supporting industries.

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