China Eximbank prioritises financing for Lao Cai Haiphong railway
On August 27 Deputy Minister of Finance Nguyen Duc Chi held talks with a delegation from the Export Import Bank of China China Eximbank on financing options for the Lao Cai Haiphong railway and opportunities to expand financial cooperation between the two sides
The China Eximbank delegation visited Vietnam's Ministry of Finance headquarters to emphasize financing support for the Lao Cai-Haiphong railway, a strategically important infrastructure project. Deputy Minister Nguyen Duc Chi reiterated the government's commitment to coordinating with China Eximbank on technical and professional matters.
Eximbank chairman Chen Huaiyu emphasized the project's significance in completing Vietnam's transport infrastructure, facilitating trade with China, Central Asia, and Europe, and optimizing costs for businesses in both countries. The total investment is estimated at $10.8 billion, with $4.3 billion in counterpart funding and $6.5 billion in loans.
China Eximbank proposed using renminbi (RMB) for financing due to lower borrowing costs and reduced foreign exchange risks. The MoF allocated $4.3 billion towards the project in the medium-term public investment plan for 2026-2030. China Eximbank plans to develop specific financing arrangements and suggested RMB-denominated bonds to raise counterpart funding.
Both sides agreed to establish a permanent communication channel for demanding implementation schedules and China Eximbank's chairman will oversee the project's progress.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
