World Bank okays $86 mln for energy efficiency in Vietnam

The World Bank will provide Vietnam with $86.3 million to support the development of a commercial financing market for investing in industrial energy efficiency.

The provision includes a $8.3 million grant used to build private sector capacity to execute energy efficiency projects, the bank said in a statement.

It will also provide technical assistance to the Ministry of Industry and Trade and relevant authorities to strengthen policy frameworks on energy efficiency.

The remaining amount will be used to establish a risk sharing facility to provide credit guarantees to support local banks in providing loans for energy efficiency projects.

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Dat Nguyen