Vietnam's Industrial Sector's Energy Efficiency Funding Boost

THE World Bank is providing a $102 million loan to the government of Vietnam to support industrial enterprises in adopting energy-efficiency technologies and practices.

Vietnamese industrial enterprises can access a line of credit to purchases of energy-efficiency technologies, and hence reduce energy consumption and costs while increasing their overall competitiveness in the domestic and international markets.

Financial institutions and industrial enterprises will evaluate and appraise energy efficiency projects, providing loans to support industrial energy-efficiency investments, which will enable them to scale up energy-efficiency lending to industries.

“We are committed to support 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,” said Ousmane Dione, the World Bank’s Country Director for Vietnam. “If stronger programs and policies are put in place, businesses would also have the incentive to cut down on wasteful practices and adopt more energy-efficient technologies.”

Picture of a Vietnam Shell Button factory by Tophu4u2 (Own work) CC BY-SA 3.0, via Wikimedia Commons.

Friday 21st April 2017

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