On the afternoon of July 14, the University of Danang (UD) in collaboration with Vietnam Development Bank, Quang Nam-Da Nang Branch, held the Announcement Ceremony of the Foreign Capital Loan Contract of Sub-Project 1: The construction of technical infrastructure and urgent works for UD in Hoa Quy-Dien Ngoc, capital loan from the World Bank.

The ceremony at UD

Attending the ceremony were Assoc. Prof. Dr. Nguyen Ngoc Vu – Member of Danang City Party Committee, Secretary of UD’s Party Committee, UD’s President; Dr. Phan Minh Duc - Deputy Secretary of UD’s Party Committee, Chairman of UD’s Council; Mr. Vo Minh-Director of State Bank, Da Nang Branch; Mr. Phan Quang Thong-Director of the State Treasury of Da Nang city; Mr. Vo Truong Giang - Member of Standing Committee of Party Committee, Head of Inspection and Supervision Department of Vietnam Development Bank; Mr. Nguyen Dac Quang - Secretary of the Party Committee, Director of the Vietnam Development, Quang Nam - Da Nang branch.

Besides, there were also Vice Presidents of UD: Assoc. Prof. Dr. Le Quang Son, Assoc. Prof. Dr. Le Thanh Bac; senior representatives of UD’s Administrative Office, Offices of the Party Committee and functional departments (Planning-Finance, Property Management, Inspection and Legal, ODA Project Management); senior representative of UD’s affiliated units and partners.

Assoc. Prof. Dr. Nguyen Ngoc Vu – UD’s President delivered a presentation

Speaking at the ceremony, UD President Dr. Nguyen Ngoc Vu shared that this was the biggest project of UD so far: Sub-Project 1-the construction of technical infrastructure and urgent works for UD in Hoa Quy-Dien Ngoc, capital loan from The World Bank- was a Group A project with a scale of more than 117 million USD, approved by the Prime Minister (June 2020).

This project was extremely important for the development of UD, especially for the goal in the strategy to develop UD into a National university according to Resolution No. 26-NQ/TW of the Politburo

 Mr. Nguyen Dac Quang-Director of

Vietnam Development Bank,

Quang Nam-Da Nang branch, gave a speech

UD President Nguyen Ngoc Vu emphasized that UD committed to strictly carry out the obligations specified in the contracts; At the same time, he expressed his desire that the Vietnam Development Bank, the State Treasury of Da Nang city and the State Bank of Danang Branch would continue to cooperate and support, promptly supervise, and solve problems during the project implementation procedure.

Dr. Nguyen Hiep-Director

UD's ODA Management Board

announced the Contract contents

 On this occasion, President Nguyen Ngoc Vu would like to give special thank to the leaders, especially the Ministry of Education and Training, organizations, agencies and banks, especially the Vietnam Development Bank, the branch of Vietnam Development Bank in Quang Nam-Da Nang area for supporting and accompanying UD in the process of advising, proposing and appraising the plan for collateral, resolving the obstacles to help UD to complete the signing procedures of the on-lending contract in accordance with the requirements of the World Bank.

Leaders of UD and Vietnam Development Bank, Quang Nam-Da Nang branch, exchanged the signed contract

The companionship and commitment of partners contributed to

ensure the progress and objectives of the Project

Dr. Nguyen Hiep - Director of UD's ODA Project Management Board announced the content of the contract under the procedures for on-lending foreign capital (signed on June 29, 2023) between Vietnam Development Bank, Quang Nam Branch and UD.

At the end of 2021, the Official Financing Agreement was signed between the State of Vietnam and the International Development Association under the management of World Bank. In middle of June, 2023, the Prime Minister agreed to lend 10% of this loan to UD and assigned the Ministry of Finance to lead the implementation process.

Based on the Prime Minister's policy, on June 26, 2023, the Ministry of Finance signed a sub-project loan agreement with UD, and authorized the signing and management of this on-lending to Vietnam Development Bank.

Group photo taking

On June 28, 2023, the Vietnam Development Bank assigned the Vietnam Development Bank, Quang Nam - Da Nang branch (in document No. 922/NHPT-VNN) to implement the procedure and deploy the loan management.

On June 29, 2023, the branch of Vietnam Development Bank in Quang Nam - Da Nang and UD signed the on-lending contract, the contract on mortgage of foreign loan property and Debt acceptance agreement, completing the capital re-loan procedures in accordance with current laws.