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U.S. International Development Financial Corporation Signed Letter of Interest Considering USD500 Million Loan to VinFast
DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Within the framework of COP28, VinFast Auto (Nasdaq: VFS) (VinFast) and the United States International
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[{"type":"text","content":" DUBAI, United Arab Emirates--(BUSINESS WIRE)--\nWithin the framework of COP28, VinFast Auto (Nasdaq: VFS) (VinFast) and the United States International Development Financial Corporation (DFC) have signed a letter of Interest (LOI) to consider a formal application by VinFast for a USD500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam. The signing not only reaffirms both parties’ commitment to fostering sustainable transportation, but also marks a significant milestone in the Vietnam - U.S. Comprehensive Strategic Partnership.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231204329471/en/VinFast Global CEO Madame Le This Thuy and DFC CEO Scott Nathan (Photo: Business Wire)\nDFC and VinFast will further discuss and consider VinFast’s formal application for a $500 million loan for the establishment of its lithium-ion battery manufacturing facilities in Vietnam, subject to DFC’s comprehensive review and approval process. This is the first project in a series of sustainable transportation development initiatives in the Vietnamese and international markets being actively discussed by the two parties.\n\n\nThe LOI stands in recognition of the transformational opportunity that VinFast is accelerating in the electrification of the Vietnamese transportation sector. VinFast’s initiatives to support the electrification of the Vietnamese transportation sector in Vietnam and abroad are built on supporting a broader innovation ecosystem through research and development, electric vehicle manufacturing, lithium-ion battery manufacturing, developing charging infrastructure nationwide, and many others.\n\n\nBy offering loans to global electric vehicle manufacturers, DFC can substantially contribute to promoting sustainable development initiatives and foster a greener future on a global scale.\n\n\nMadame Le Thi Thu Thuy, Global CEO of VinFast, said: “VinFast is proud to work with DFC to lead the way to future of sustainable transportation. DFC financing would set a path forward for VinFast’s global expansion strategy and its journey toward a greener future for all.”\n\n\nThe U.S. International Development Finance Corporation (DFC) is the U.S. Government's development finance institution. DFC partners with the private sector to finance solutions to ...