Sun. Jun 16th, 2024

The International Investment Bank (IIB) signed cooperation agreements
with several Vietnamese banks within the framework of a visit by the
bank’s delegation.

Under a comprehensive
cooperation agreement between IIB and the Bank for Investment and
Development of Vietnam (BIDV), IIB will provide BIDV with a 50 million
EUR credit in the medium and long term for project and trade assistance.

The two sides also committed to cooperating in savings and foreign exchange transactions.

The IIB also became a partner of the Ho Chi Minh City Development
Joint Stock Commercial Bank (HDBank) in many fields of business
activities. It is a favourable condition for the two sides to strengthen
information exchange and propose cooperation opportunities.

They pledged to organise more joint conferences, seminars and meetings
to seek partners and discuss consumers’ demand of banking services.

On March 1, representatives of IIB and the Agricultural Bank of
Vietnam (Agribank) signed an agreement, under which the two sides will
exchange views on cooperative possibilities in the coming time and
facilitate joint projects between the two banks.

Established in 1970, the IIB used to be a common bank of former
socialist countries with the headquarters in Russia’s Moscow and
now includes 10 member states. The aim of the bank is to build an
effective mechanism of support for small and medium-sized businesses in
the member states, and to participate in large infrastructure projects.

It has provided 7 billion EUR worth of loans for about 200 projects in many countries.-VNA

By vivian