Vietnam gas project receives $830m in Japanese loans

Natural gas to serve as transition energy source in Hanoi's decarbonization plan

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The Japan Bank for International Cooperation has funded projects in Vietnam to the tune of over $3 billion. (Photo by Daiki Katagiri)

YUJI NITTA, Nikkei staff writer

HANOI -- The Japan Bank for International Cooperation and private lenders will extend roughly $832 million in syndicated loans to a gas development project in Vietnam, the state-backed lender announced on Monday.

JBIC is contributing about $415 million to the co-financing deal, with private financial groups providing the rest. The money will go toward developing the Block B gas field off the coast of southern Vietnam.

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