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Economic News

Last updated: Friday, September 21, 2018

 

WB Helps Vietnam Improve Energy Efficiency in Industrial Sector

Posted: Monday, March 12, 2018

The World Bank (WB) and Vietnam’s Ministry of Industry and Trade recently launched a US$102-million project to support the efforts of industrial enterprises to adopt energy-efficiency technologies and practices.

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

Funding under this project will be provided to participating financial institutions, which will then lend to industrial enterprises to invest in energy-efficient subprojects.

Of the US$158 million, US$100 million comes from the World Bank’s International Bank for Reconstruction and Development (IBRD), the financing resource for middle-income countries, and US$1.7 million is from the International Development Association, the Bank’s fund for the poorest countries. The rest of the project’s funding will come from the Vietnam government participating financial institutions, and industrial enterprises.

L.A








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