Vietnam gets $500m to improve energy supply

A $500 million (£298m) loan has been approved by the World Bank to support Vietnam’s energy sector. Part of the investment will be used to build transmission lines and substations […]

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By Priyanka Shrestha

A $500 million (£298m) loan has been approved by the World Bank to support Vietnam’s energy sector.

Part of the investment will be used to build transmission lines and substations to increase transport capacity.

It will finance around 15% of Vietnam’s transmission network growth until the end of the decade, targeting major economic development areas.

The project will also support smart grid technologies in a bid to improve reliability and reduce power outages.

“At the same time, the project will also help build the capacity of the National Power Transmission Company by supporting its operational and financial independence, in line with the power sector reforms program, which foresees a wholesale competitive market to be piloted by 2015”, the Bank said.