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China Eximbank Offers Loan to Vietnam for Purchasing Chinese Equipment
The Export-Import Bank of China signed an agreement in Beijing on October 23 with the Vietnamese Ministry of Finance, under which the Chinese government will provide the 6th Engineering Company of Vietnam with a preferential loan worth 50.15 million yuan. The loan will be used by the Vietnamese company mainly to buy China-made equipment and machinery for road and bridge construction.
Sources say that the roads and bridges urgently needed to be renovated and reconstructed in recent years involve an extremely huge volume of engineering work. The 6th Engineering Company of Vietnam, a large road and bridge construction company under the Vietnamese Ministry of Communications, has signed three batches of purchasing contracts with Yunnan Equipment and Machinery Export-Import Co., to import China-made road and bridge construction equipment worth a total of over 50 million yuan.
It's reported that in accordance with the frame agreement signed in 1997 between the Chinese and Vietnamese governments on preferential loans to Vietnam, the Export-Import Bank of China will provide the Vietnamese government with a total of 200 million yuan preferential loan.
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