World Bank Plans to Support Vietnam Private Sector in Green Energy: Kwakwa

The World Bank has drawn out detail proposal for financing Vietnamese private firms to carry out renewable energy projects for better green growth development in the Southeast Asian country, said Victoria Kwakwa, World Bank country director in Vietnam. More financial and technical support should be given to private companies for further ratio of sustainable energy, including wind-to-power, biomass, waste-to-energy, and solar energy, Ms. Kwakwa said at a meeting with Deputy Minister of Industry and Trade Hoang Quoc Vuong in Hanoi recently. So far, the bank has provided different loans to Vietnam’s private firms in small hydropower projects within the Renewable Energy Development Project (REDP). The World Bank has also been available in making policies on energy development and forming electricity prices. Vietnam has tried to develop renewable energy in the face of falling fossil energy reserves and the majority of investments for green energy has been sourced from foreign institutions. (Ttvn.vn Aug 13)