Military Bank Finances VND2 Tln for Vinacomin
The Military Joint Stock Commercial Bank (MB) will provide credits of VND2 trillion (US$118.34 million) for the Vietnam National Coal - Mineral Industries Group (Vinacomin) from now to 2010 to raise coal production capability and mining.
An agreement to this effect was signed January 9 in Hanoi.
Vinacomin will use the funds to mine, produce and trade coal, and to invest in new projects on raising capability of coal production and mining.
MB will provide Vinacomin with banking and financial service products. In addition, MB and Vinacomin will boost cooperation on investment and trademark promotion.
The deal has become MB’s largest credit contract in 2009 and is of importance to Vinacomin in the coming years when the coal sector is still considered a key industry of the country. (VNA, Labor)
Vietnamese
