It is ADB’s first financing of a wind power project in Vietnam, comprising a $35 million A loan directly funded by ADB and an $81 million syndicated B loan.
While Covid-19 drags on local currency bond markets in emerging East Asia, the market still got a positive increase.
The project also marks the largest installation of floating solar PV panels in Southeast Asia.
While domestic think tanks in Vietnam show optimism on the local economic growth and forecast a better performance than the government’s target, international organisations are more cautious with lower projections.
Vietnam’s LCY bond market is smallest in size compared to other emerging East Asia markets such as Indonesia ($217 billion), Singapore ($310 billion), Malaysia ($353 billion) and Thailand ($399 billion).
The first quarter saw the outstanding amount of local currency (LCY) corporate bonds reached some $4.34 billion, with growth declining 1.3 per cent quarter-on-quarter but rising 31.9 per cent year-on-year, according to ADB.
Vietnam's economic growth is expected to slow down to 6.7 per cent next year in the context of weaker external environment.
Vietnam’s private enterprise bond market increased 30 per cent year on year.
The Asian Development Bank and the Ministry of Finance have signed an agreement on funding the improvement of transport connectivity in northern mountainous provinces of Vietnam.
This is the largest commercial loan that the Asian Development Bank has provided to an Asian commercial bank so far.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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