On 28/02/2013, in Hanoi, in the framework of the mission to promote activities in Vietnam, International Investment Bank (IIB) had a program to work with Bank of investment and Development of Vietnam (BIDV). Two sides exchanged, updated macro-economic situation and results of operations of each of the parties in 2012, shared the development-orientation and especially policies to strengthen the business cooperation of IIB in Vietnam.

 

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At the meeting, the two sides signed the Cooperation Agreement. Accordingly, the two sides agreed to cooperate comprehensively in the business fields such as information exchange, training, survey, loan and project loan cooperation, implementation of the transactions in the capital and financial market... In particular, IIB will provide BIDV medium and long term credit limit worth 50 million euros for the purpose of project finance and trade finance. The two sides also pledged to work together to implement priority deposits and foreign exchange transactions. The signing of the cooperation agreement between IIB and BIDV this time is to specify the areas of cooperation and further development of the traditional relationship between the two parties, contributing to the promotion of bilateral trade between the countries of Eastern Europe and Vietnam.

IIB is the common bank to the countries of the former socialist bloc, which was founded in 1970, is headquartered in Moscow, Russia and currently has 10 member countries. IIB‘s main activity is to provide the long-term and medium commercial loans for the purpose of implementation of the programs, joint investment projects and finance the national constructions proposed by the Member Countries. Since the date of establishment, IIB has played the role of the main bank provides long-term and medium capital for many major projects of its members, thereby, contributes to tighten economic cooperation, trade and investment relationship between the member countries.