In particular, for electricity source projects, EVN has finalised internal procedures to borrow more 2.5 trillion dong from Vietnam Development Bank (VDB).

At the same time, EVN said that, VDB also directed its branches to sign additional lending contracts totalling 421 billion dong for Dong Nai 3 hydropower plant project and 449 billion dong for Ban Ve hydropower plant project.

For Duyen Hai 3 power project, Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) has completed the evaluation for the lending dossier with total amount of 6.2 trillion dong of EVN’s reciprocal capital and is submitting for approval from the State Bank of Vietnam (SBV). This contract is expected to be signed in September 2012.

In addition, EVN will also continue to work with Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) to borrow 4.2 trillion dong for its Duyen Hai power port project.

For urgent electricity projects, VDB also gave an approval in principle for National Power Transmission Corp (NPT) to borrow capital for ground clearance with a total amount of about 3.05 trillion dong and asked NPT to review its items to sign contract yearly.

Bank for Investment and Development of Vietnam (Bidv) also agreed to lend maximum 3.01 trillion dong for NPT to conduct nine urgent electricity grid projects.

At the same time, NPT is also preparing to borrow 200 billion dong from Vietnam Bank for Agriculture and Rural Development (Agribank) to carry out 220 kV Vung Ang-Ha Tinh electricity line project and proposed Agribank to lend more 2.457 trillion dong.