ABBANK Lends Power Transmission Project

An Binh Commercial Joint Stock Bank (ABBANK) has recently signed a credit agreement to fund VND800 billion to power transmission projects executed by the National Power Transmission Corporation (NPT) and its member companies (not contractors) in 2009. The lender may lend up to VND5,000 billion to NPT, its member units and electricity contractors in 2010.

 

Besides, ABBANK will introduce package capital solutions for power transmission projects, including capital solutions for NPT (investors) and contractors. Particularly, ABBANK pledges timely capital disbursement for their power transmission projects. The bank will decide interest rates on specific projects.

 

If borrowers deposit their receivables and claims, the minimum interest rate is equal to 95 % of ordinary rate. For other deposits, the interest rate may be equal to 90 % of the ordinary rate.