The Export-Import Bank of the United States (US Ex-Im) has agreed a US$500mn financing facility with the government of Vietnam.
The facility, which was agreed via a memorandum of understanding on an official US Ex-Im visit to Vietnam, will be used to boost sales of US equipment and services to Vietnam for high-priority infrastructure projects.
Fred Hochberg, chairman and president of US Ex-Im, comments: “Vietnam is one of the world’s key growing economies. US Ex-Im is pleased to provide a US$500mn financing facility to support the nation’s infrastructure growth through the purchase of US goods and services by the government and private companies.”
Key sectors including communications, transportation, renewable energy, wastewater treatment and medical equipment and services will receive financial backing under the memorandum.
“This agreement is a continuation of the increasingly close ties that have been established between our countries, starting in 1995. It expresses our readiness to help finance Vietnam’s infrastructure development in key sectors,” Hochberg adds.
This comes after Vietnam gained permanent nationalised trade relations with the US in December 2006.
Last Updated June 15, 2010
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