HO CHI MINH CITY, VIETNAM – Media OutReach – September 13, 2023 – Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) signed an agreement with Fulbright University of Vietnam on September 10 to provide reciprocal capital equivalent to 20 million US dollars for the construction of facilities to improve the quality of education and student life, develop scientific research and promote innovation.
John Kerry, the US President’s Special Envoy for Climate, attended the signing ceremony of the agreement between HDBank and Vietnam’s Fulbright University. Photo courtesy of the bank.
The agreement was signed in Hanoi during a ceremony held as part of activities to mark US President Joe Biden’s state visit to Vietnam.
In the leaders’ joint statement on elevating U.S.-Vietnam relations to a comprehensive strategic partnership, the leaders of the two countries “applauded the work of Vietnam’s Fulbright University and its growing role as a regional public policy training center.
The signing ceremony took place in the presence of John Kerry, the US President’s Special Envoy for Climate, and Scott Nathan, Managing Director of the US International Development Finance Corporation (DFC).
Under the terms of the agreement, HDBank’s committed capital will be used to match the DFC loan to build Fulbright University at Saigon High-Tech Park.
HDBank signs the agreement with Vietnam’s Fulbright University on September 10 in the presence of John Kerry, the US President’s Special Envoy for Climate, and Scott Nathan, Managing Director of the US International Development Finance Corporation. Photo courtesy of the bank.
According to HDBank, the agreement is of great significance as it marks an important development step between a major commercial bank in Vietnam and the first American liberal arts university in Vietnam.
This is also a very important event on the occasion of the 10th anniversary of the Vietnam-US comprehensive partnership and in the spirit of the new comprehensive strategic partnership between the two countries.
The agreement once again highlights HDBank’s commitment and focus on education and FUV’s mission to inspire new generations of leaders to create positive change in Vietnam and beyond.
Dr. Scott Fritzen, president of Fulbright University Vietnam, said the partnership would help realize many projects that Fulbright has planned in its development strategy.
“We are very excited about the changes this partnership will bring. The reciprocal capital will accelerate the process of building and developing advanced facilities at Fulbright University, helping us quickly achieve our goal of becoming a leading academic, research and innovation hub in Vietnam. ”
Pham Quoc Thanh, CEO of HDBank, said: “Through the agreement with Vietnam Fulbright University, HDBank fulfills its commitment to supporting education, science and innovation in Vietnam.
“We believe that this funding will significantly contribute to the development of Vietnam’s Fulbright University and thus shape the country’s technological and academic landscape, thereby promoting development.”
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