The Japan Bank for International Cooperation (JBIC) signed a loan agreement on 11 November with the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), which the release describes as Vietnam's largest state-owned bank. The agreement caps financing at $100mn, of which JBIC's own share is about $60mn.
How the loan is built
The loan is an individual agreement under a credit line JBIC set up with BIDV in April 2026. It is a co-financing with Mizuho Bank and Saitama Resona Bank, and JBIC will also guarantee part of the private banks' lending. JBIC's release gives no tenor or pricing, and it does not say how the rest of the financing is split between the two commercial lenders or how much of their lending the guarantee covers.
What the money pays for
BIDV will on-lend the funds to Vietnam's national power transmission corporation for grid works in northern and central Vietnam. JBIC books the loan under its Global Environment Conservation operation, known as GREEN.
The release ties the project to Hanoi's power planning. Vietnam's government revised its eighth national power development plan in April 2025, and the plan aims to expand and upgrade the grid to carry more renewable energy, in pursuit of carbon neutrality by 2050.
The policy wrapper
JBIC says the loan is one of 15 Japan-Vietnam cooperation projects in a first batch agreed in March 2025 by the Japanese embassy, Japanese companies and JBIC with Vietnam's Ministry of Industry and Trade. It adds that the two governments agreed in April 2025 to advance bilateral energy-transition projects, and that Tokyo launched a regional partnership called POWERR Asia in April 2026, citing the current Middle East situation, to strengthen energy supply chains.
An earlier local-bank loan in September
In September, JBIC signed an individual loan under a credit line with Vietnam Prosperity Joint-Stock Commercial Bank. That loan finances grid works in Ho Chi Minh City. JBIC says it is working through a range of local financial institutions.