The World Bank's Board of Executive Directors has approved a $ 102 million loan to the Vietnamese government to support industrial enterprises to apply energy-efficiency technologies and practices.
Financial institutions can provide loans to support industrial energy efficiency investments, which will enable them to scale up energy efficiency lending to industries.
Through this project, industrial enterprises can access new credit to fund their purchases of energy efficiency and production-optimization technologies, thus reducing energy consumption and production costs and increasing overall competitiveness in the domestic and international markets.
“We are committed to supporting Vietnam’s drive to meet its future energy demand, and improving energy efficiency is the single best and cheapest option because it will help consumers save energy and reduce the need for new thermal power generation, while also reducing pollution and mitigating the risks of climate change,” Ousmane Dione, World Bank’s country director for Việt Nam, said.
Earlier, the Prime Minister also signed Decision No. 11/2017/QD-TTg on mechanisms to encourage the development of solar power projects in Vietnam. Organizations and individuals participating to the development of solar power projects will enjoy a land incentives, electricity produced from solar power projects will be purchased and exploited full capacity.