Vietnamese bank BIDV to extend 176 mln USD loan to Laos
The Bank for Investment and Development of Vietnam (BIDV) will lend over 176 million USD to Laos to help the country develop its traffic infrastructure.
The Bank for Investment and Development of Vietnam (BIDV) will lendover 176 million USD to Laos to help the country develop its trafficinfrastructure.
The State Bank of Vietnam has given permission tothe bank to sign a credit contract with the Lao government, which plansto use the loan to implement road projects, other traffic works and forirrigation projects in Houaphanh and Luang Namtha provinces.
BIDVwill also be responsible for arranging finances so as to be inaccordance with foreign exchange and foreign debt management regulationsof both countries, the bank said.-VNA
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