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VIB Bank and VFC tie up to finance Vietnamese shipbuilding

Ha Noi: The Vietnam International Bank (VIB) and the Viet Nam Shipbuilding Industry Finance Company (VFC) signed an agreement on Wednesday to jointly finance projects in the shipbuilding, marine transportation and support industries, reports the Vietnam News Agency.

VIB and VFC are expected to lend the Vinashin Group's subsidiaries up to VND1 trillion ($62.5m) as one of their first deals. "The agreement expresses VIB Bank's efforts to boost its co-operation and investment in the shipbuilding industry, one of the country's key industries," a bank representative is reported as having said.  [30/11/07]

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