In July 2022, Angola awarded a 30-year railway concession to a European consortium, rejecting a Chinese bid, while the US government announced over $560 million in funding for the Lobito Corridor project, aimed at enhancing mineral transport from Central Africa. President Biden emphasized the project's potential to drive economic growth and create jobs, while regional leaders highlighted the importance of local processing of minerals to benefit their economies. The Lobito railway, historically significant but troubled, is being revitalized to connect Zambia's copper mines to the coast, competing with Chinese infrastructure efforts.
VPBank has secured a USD 150 million credit agreement with the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam, supporting the national goal of achieving net-zero emissions by 2050. The agreement, signed on October 9, 2023, aligns with Vietnam's Eighth Energy Development Plan and the Asia Zero Emissions Community initiative. This partnership underscores the growing confidence of international financial institutions in VPBank and strengthens economic ties between Vietnam and Japan.
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