Brussels, 05/11/2012 (Agence Europe) - On Wednesday 31 October, the European Investment Bank (EIB) granted a €150 million loan to the government of the Socialist Republic of Vietnam with the purpose of part-financing projects that will contribute to the mitigation of climate change.
The loan is aimed at fostering environmental sustainability and making long-term financing available for investments that contribute to climate change mitigation through the avoidance, reduction or sequestration of greenhouse gases emissions, by using of renewable energy sources and energy efficiency enhancements. The loan will be provided via the Ministry of Finance on behalf of the Government of Vietnam to four state-owned banks for on-lending to small-scale climate change projects. The four banks, among the largest in Vietnam, have the ability to source and manage investment schemes in the energy and industrial sectors. Interested promoters should address their requests to one of the participating banks, which cover different areas of the Vietnamese economy: JSC Bank for Investment and Development of Vietnam (BIDV), Vietnam JSC Bank for Industry and Trade (Vietinbank), Bank for Agriculture and Rural Development (Agribank) and Vietnam Development Bank (VDB).
This is the second loan of its kind in Vietnam, the first being the €100 million Vietnam Climate Change Framework Loan signed in May 2009 for financing investments that contributed to climate change mitigation and support the EU's presence in the country, which has been implemented successfully by both sides. (OL/transl.fl)