Hanoi, 26 March 2015. Bank for Investment and Development of Vietnam JSC (BIDV) and the Ministry of Finance (MoF) sign an authorization agreement on onlending WB loan to Transmission Efficiency Project (TEP) worth USD500 million. This is the biggest World Bank power project in the country. The signing ceremony is witnessed by representatives of the MoF, the State Bank of Vietnam, the Government Office, Electricity of Vietnam (EVN), National Power Transmission Corporation (NPT), BIDV and relevant project teams.

The TEP project aims to improve capacity, efficiency and stability of electricity transmission systems in key economic areas and cities including Hanoi, Ho Chi Minh City, Mekong Delta and the central Vietnam region. Also in the TEP framework, the NPT will develop a smart grid by upgrading control systems of five 500kV and eleven 220kV stations in order to protect equipment, enhance stability and reduce outages.

​As a leading state-run commercial bank in Vietnam with experiences in ODA and preferential foreign loan on-lending, BIDV is entrusted by the Ministry of Finance to on-lend loans from international institutions such as the World Bank, the Asian Development Bank (ADB), European Investment Bank (EIB), French Agency for Development (AFD), and the Nordic Investment Bank, etc. Currently, BIDV is onlending a number of large power projects including the USD312-million Vietnam Power Sector Reform Development Policy Operation funded by the World Bank, the power transmission projects and extended one in North Vietnam worth USD120 million and USD360 million respectively from ADB.

For more information, contact:

Vu Manh Quan

 Transaction Center III, BIDV

HP: 0974.129.995

Email: Quanvm.sgd3@bidv.com.vn