Vietnam’s energy sector lent $500m

Vietnam and the World Bank have signed a $500 million (£320m) loan to boost the energy infrastructure in the nation. The investment will fund the construction of more than 1,000 […]

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By Priyanka Shrestha

Vietnam and the World Bank have signed a $500 million (£320m) loan to boost the energy infrastructure in the nation.

The investment will fund the construction of more than 1,000 kilometres of transmission lines – part of the nation’s Transmission Efficiency Project – which is expected to improve the capacity, efficiency and reliability of electricity flow.

It will also support smart grid technologies which will help reduce electricity outages.

Victoria Kwakwa, Country Director for the World Bank in Vietnam said: “Improving energy efficiency is critical for Vietnam’s ability to meet energy demand to power growth and maintain improvements in welfare.

“Energy efficiency improvements are also important for reducing Vietnam’s rapidly growing greenhouse gas emissions and contributing to climate change mitigation.”