Russia to Lend Vietnam $9 Billion for First Nuclear Plant
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Russia agreed to lend Vietnam as much as $9 billion to fund the construction of the Southeast Asian nation’s first nuclear power plant as the countries deepen their economic ties.
“The total loan value will be between $8 billion and $9 billion, depending on prices of materials at the time we start construction,” Phan Minh Tuan, head of state-run Vietnam Electricity’s nuclear energy development department, said by telephone today. The lending period will be as long as 28 years, Tuan said, declining to disclose the interest rate.