EVN and JBIC: many prospects for financial cooperation

On March 8th, 2019, in Ha Noi, General Director of EVN Tran Dinh Nhan welcomed and worked with Mr. Masaaki Yamada, Managing Executive Officer and Global Head of Energy and Natural Resources Finance Group of Japan Bank for International Cooperation (JBIC).

In the energy sector, JBIC, over the past time, has participated in financing power projects in Vietnam with a total value of loans of more than USD 1.5 billion, in which total value of the loans arranged for EVN is nearly USD 1 billion.

With the financial support from JBIC, EVN has implemented many power source projects in the South such as: Vinh Tan 4 Thermal Power Plant; Duyen Hai 3 Thermal Power Plant, Expanded Duyen Hai 3 Thermal Power, etc., thereby ensuring power supply for the South, strengthening the National power system’s capacity. General Director of EVN Tran Dinh Nhan thanked JBIC for its effective support over the past time and wished JBIC to continue providing financial support in the coming time.

EVN’s General Director Tran Dinh Nhan working with Mr. Masaaki Yamada – JBIC Managing Executive Officer and Global Head of Energy and Natural Resources Finance Group

Mr. Masaaki Yamada stated that on JBIC’s investment opinion, in the coming period, it would focus on financing energy projects for environmental protection, projects with the participation of Japanese enterprises. JBIC would also provide policies to finance capital for enterprises like EVN - who raised capital based on its corporate credit rating, without the Government’s guarantee.

In 2018, right in the first evaluation, EVN was ranked as a long-term foreign-currency issuer default rating of “BB” with a “Stable outlook”
by Fitch Ratings – a credit rating agency. This ranking of EVN corresponded to the national credit rating of Vietnam.

At the work session, the two parties discussed and reached many consensuses in the funding method of JBIC in the upcoming period. Additionally, EVN’s General Director also expressed his agreement with the idea proposed by ​​JBIC on organizing periodic dialogues among JBIC, EVN and the Ministries as well as sectors.

In an open atmosphere of exchange, the leaders of EVN and JBIC also shared information on energy trends in Vietnam’s power market, as well as the orientation for development and the cooperation prospects of the two parties in the coming period.

  • 08/03/2019 04:47
  • evn.com.vn