DFC
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.
The
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.
By
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.
DFC
is the U.S. Government's development finance institution. DFC partners
with the private sector to finance solutions to the most critical
challenges facing the developing world today. DFC invests across sectors
including energy, healthcare, infrastructure, agriculture, and small
business and financial services. DFC investments adhere to high
standards and respect the environment, human rights, and worker rights.
To date, DFC has provided support in the amount of $737 million to
development projects in Vietnam, making the country its largest market
in Southeast Asia.
