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Vietnam Airlines’ project to be co-funded by PVFC and Cathay United Bank 
On Feb 6th , in Hanoi, PVFC and Cathay United Bank (CUB) has signed a co-funding contract for Vietnam Airlines.
Attending the signing ceremony, there were Mr. Pham Ngoc Minh – CEO of VNA , Mr. Cheng Chih Cheng – CEO of CUB-Chu Lai Subsidiary , Mr. Nguyen Dinh Lam – PVFC Chairman, Mr. Nguyen Thien Bao – PVFC CEO, and key persons from all the partners.
According to the contract, PVFC and CUB will provide VNA a credit limit up to USD 7,255,000 in the term of 7 years, helping VNA to buy spare engines of Airbus 321 (subjected to VNA’s 10 Airbus 321 buying plan). CUB will be the leading bank, PVFC the arranger and mortgage asset manager.
Speaking at the ceremony, Mr. Pham Ngoc Minh highly appreciated both PVFC and CUB asserts to cope with challenges and arrange capital for the project. Minh committed that VNA will strictly carry out their project in due course, using the capital right in accordance with the goal, and returning fund and interest right at due date of the contract.
(PVFC)
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