ADB Boosts Vietnam's State-Owned Firms

The Asian Development Bank is offering a USD630 million multitranche financing facility to help strengthen Vietnam’s state-owned enterprises.

The first tranche worth USD130 million will back the restructuring of the Song Da group of companies, which is involved in several infrastructure industry segments, and logistics-focused Southern Waterborne Transport Corp., according to ADB. The bank did not say when the first tranche would be made available, Dow Jones Newswires reports.

The financing facility must be utilized by December 2015, according to the regional lender.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.