Mekong Delta region to receive $163 million loan

The Bank for Investment and Development (BIDV) has agreed to provide a VND3.4 trillion (US$163 million) loan for 11 projects in the Mekong Delta provinces for 2016-20 and continuing to 2030.

Following the agreements signed last week, the bank will allocate funds for projects in agriculture, aquaculture, cement plants, seafood processing, plant protection and build-operate-transfer (BOT) road sections in Soc Trang, Bac Lieu, Tra Vinh, Hau Giang, Can Tho and Vinh Long provinces.

These projects seek to boost socio-economic development in the Mekong delta region, along with seafood exports.

Earlier this year, BIDV also signed contracts for road expansion projects in Quang Tri and Quang Binh, as well as tourism projects in Phu Quoc Islands.

The bank also signed a memorandum of understanding on comprehensive co-operation with Cathay United Bank, a Taiwanese commercial bank, and Japan's Kyoto Bank to provide banking services to Japanese businesses and investors in Viet Nam.

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