Three banks promise loans for energy-saving projects

Posted at: MONday - 29/11/2010 08:49 - post name: Nguyễn Mai Nhiệm

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Development Bank (VDB) made the announcement at a seminar in HCMC.

Thai Thi Phong, vice head of the General Office of the Vietnam Development Bank, said the bank would continue giving priority loans for companies to execute energy-saving projects in areas such as water supply, wastewater treatment, dormitories for workers at industrial parks and production tech renovation, among others.

For each such project, Phong said, VDB will provide loans up to 70% of the total required cost with a maximum annual interest rate of 9.6% and a term of 12 years.

She said VDB was ready and willing to help enterprises with the paperwork.

VDB is preparing to sign a contract to provide a preferential loan of VND4.5 trillion for Cong Ly Investment and Construction Company Limited to develop a wind-power project in the Mekong Delta province of Bac Lieu, she said.

According to the Energy Conservation Center of HCMC (ECC), more and more businesses in the country have expressed keen interest in energy-saving projects in recent years.

“In 2010, the country has hundreds of energy-saving projects registered for priority loans totaling some VND2 trillion, including around VND1.5 trillion for enterprises in HCMC,” Huynh Kim Tuoc, director of ECC, told the Daily on the sidelines of the seminar.

The number of energy-saving projects, he noted, is rapidly increasing.

Tuoc said each project required a budget of between VND5 billion to VND800 billion depending on scale and industry.          

Bui Thi Kim Lien, vice director of VietinBank’s SME Banking Department, told the seminar that since 2007, the bank had coordinated with the Ministry of Science and Technology in a program to lend some US$14.1 million to energy-saving projects.

The loans have gone to small and medium enterprises in the brick production, ceramics, paper, garment and textile and food processing sectors.          

So far, she said, VietinBank has provided total loans of VND45 billion for 35 projects.
Meanwhile, Phan Trong Khanh, director of the Business Department of Techcombank, said the bank would give priority to enterprises to take out loans accounting for up to 70% of the value of a project with an annual interest rate of 15-17% and a term of 15 years.          

“With over 300 branches of Techcombank around the country, corporate clients will go through a simple lending procedure,” Khanh said.          

In addition to banks, the Energy Conservation Center of HCMC also introduced other financing sources such as the Fund for Technology Renovation of HCMC, Dragon Capital, and Vietnam Environment Protection Fund.

Author: By Van Nam - The Saigon Times Daily
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