EXIM to finance $500 million in green exports from US to Vietnam
EXIM to finance $500 million in green exports from US to Vietnam
Export-Import Bank of the United States (EXIM) and Vietnam Development Bank (VDB) have signed a $500 million MoU to facilitate the financing of US exports to Vietnam.
The MoU will encourage collaboration between EXIM and VDB and support US export financing to advance the green economy transition, infrastructure development, and climate related projects. The ceremony was hosted by VDB at its Hanoi headquarters on March 18.
“The MoU we signed demonstrates our shared commitment to strengthening the US-Vietnam commercial relationship and dedication to creating opportunities that strengthen the economies of both our nations,” said Reta Jo Lewis, president and chair of EXIM. “We are excited to collaboratively seek financing opportunities to advance mutually beneficial projects and support US exporters looking to do business in Vietnam.”
“Guided by the joint leaders’ statement on elevating US-Vietnam relations to a Comprehensive Strategic Partnership, our two organisations will contribute to enhancing economic exchanges between the two countries.” said Le Van Hoan, chairman of VDB. “I believe the MoU will strengthen our cooperative relationship, laying the foundation for potential collaboration opportunities. This will contribute to aiding both organisations in successfully accomplishing the tasks entrusted by our respective governments.”
EXIM will work closely with VDB to identify infrastructure, renewable energy, and other projects to help spur the green transition in Vietnam. The MoU signing also demonstrates the US commitment to assisting Vietnam with financing solutions for the green energy transition to fulfill its ambitious climate goals.
EXIM is the US’ official export credit agency with the mission of supporting American jobs by facilitating US exports. To advance American competitiveness and assist US businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans.
