WB helps Vietnam improve energy efficiency in industry
The World Bank’s Board of Executive Directors approved a 102 million USD loan to the Vietnamese Government to support enterprises in adopting energy-efficiency technologies and practices.
Hanoi (VNA) – The World Bank (WB) in Vietnam announced on April 17 that the bank’sBoard of Executive Directors had approved a 102 million USD loan to theVietnamese Government to support enterprises in adopting energy-efficiencytechnologies and practices.
Under thisproject, industrial enterprises can access new credit to fund their purchasesof energy efficiency and production-optimisation technologies, thus reducingenergy consumption and production costs and increasing their overallcompetitiveness in the domestic and international markets.
With thesupport of the project, financial institutions and enterprises will be able toprepare, evaluate and appraise energy efficiency projects. Financialinstitutions can provide loans to support industrial energy efficiencyinvestments, which will enable them to scale up energy efficiency lending toindustries.
“We arecommitted to support Vietnam’s drive to meet its future energy demand, andimproving energy efficiency is the single best and cheapest option, because itwill help consumers save energy and reduce the need for new thermal powergeneration, while also reducing pollution and mitigating the risks of climatechange,” said Ousmane Dione, the World Bank’s Country Director for Vietnam. “Ifstronger programs and policies are put in place, businesses would also have theincentive to cut down on wasteful practices and adopt more energy-efficienttechnologies.”
Fundingunder this project will be provided to participating financial institutions,which will then lend to industrial enterprises to invest in energy-efficientsubprojects.-VNA
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Illustrative photo. (Source: VNA) 
