CACIB to Finance $8.4B for 40 Projects in Vietnam

Credit Agricole Corporate & Investment Bank (CACIB) will finance $8.4 billion for 40 development projects in Vietnam in the coming years, General Director Nguyen Nhon Quy said. The Dau tu newspaper quoted Quy as saying that the funding will go to Dung Quat Polypropylene production plant, Cai Mep international port, SP-PSA international port, a container port in the center of Saigon. Other projects include hydropower projects of Dong Nai 3, Dong Nai 4, An Khe Karnak, Srepok 3 and Ca Mau, Phu My bridge, Cam Pha 1 thermal power plant, PM3-Ca Mau gas pipeline, Airbus aircraft buying project by Vietnam Airlines and some others. The bank will provide more assistance for the Vietnamese government and investors to carry out these projects, the official emphasized. CACIB, which offers various products and services in capital markets, investment banking, structured finance, corporate banking, and international private banking, ranks the 6th on total assets and 9th on equity and reserve. (Dau tu – Investment Dec 17 p13)