Illustrative photo. (Source: VNA)Under thisproject, industrial enterprises can access new credit to fund their purchasesof energy efficiency and production-optimisation technologies, thus reducingenergy consumption and production costs and increasing their overallcompetitiveness in the domestic and international markets.
With thesupport of the project, financial institutions and enterprises will be able toprepare, evaluate and appraise energy efficiency projects. Financialinstitutions can provide loans to support industrial energy efficiencyinvestments, which will enable them to scale up energy efficiency lending toindustries.
“We arecommitted to support Vietnam’s drive to meet its future energy demand, andimproving energy efficiency is the single best and cheapest option, because itwill help consumers save energy and reduce the need for new thermal powergeneration, while also reducing pollution and mitigating the risks of climatechange,” said Ousmane Dione, the World Bank’s Country Director for Vietnam. “Ifstronger programs and policies are put in place, businesses would also have theincentive to cut down on wasteful practices and adopt more energy-efficienttechnologies.”
Fundingunder this project will be provided to participating financial institutions,which will then lend to industrial enterprises to invest in energy-efficientsubprojects.-VNA
VNA
