(VNS) The Bank of Investment and Development of Viet Nam (BIDV) signed a US$200 million term loan with the Austrian Raiffeissen Zentralbank Oesterreich AG (RZB) bank in Vienna, Austria, on Monday.
BERLIN (8 Nov 2006) — The Bank of Investment and Development of Viet Nam (BIDV) signed a US$200 million term loan with the Austrian Raiffeissen Zentralbank Oesterreich AG (RZB) bank in Vienna, Austria, on Monday.
The deal marks the largest-yet foreign commercial loan won by a Vietnamese bank, an important milestone in the co-operation between RZB and BIDV.
BIDV will use the five-year loan to adjust the structure of its capital sources and assets before the first phase of its equitisation begins in late 2007.
The RZB’s loan will also help BIDV expand its scope of investment and provide medium- and long-term loans for the country’s economic activities. — VNS
