World Bank lends US$102m to Vietnam for energy efficiency projects

Firms will be supported to adopt energy-efficient practices.

The World Bank in Vietnam announced that the bank’s board of executive directors had approved a US$102 million loan to the Vietnamese Government to support enterprises in adopting energy-efficiency technologies and practices, according to Viet Nam News.

Under this project, industrial enterprises can access new credit to fund their purchases of energy efficiency and production-optimisation technologies, thus reducing energy consumption and production costs and increasing overall competitiveness in the domestic and international markets.

"With support of the project, financial institutions and enterprises will be able to prepare, evaluate and appraise energy efficiency projects. Financial institutions can provide loans to support industrial energy efficiency investments, which will enable them to scale up energy efficiency lending to industries," Viet Nam News said.