EIB executive visits Vietnam to seek increased partnership

Hanoi (VNA) – A high-level delegation from the European Investment Bank (EIB) – the world’s largest international public bank – led by its Vice President Jonathan Taylor is on a working visit to Hanoi from January 8-10, the Delegation of the European Union to Vietnam said on January 9.

This is the first high-level visit of the EIB to Vietnam in the past five years.

Jonathan Taylor, Vice President responsible for operations in Asia, is accompanied by the EIB’s Director for operations outside Europe and senior colleagues responsible for lending in the region.

The EIB visit’s agenda includes visits to the site of the lender’s most recent climate related investment in Vietnam, the Hanoi metro project, and meetings with senior government ministers, city leaders and representatives of financial institutions and diplomats.

“The EU Bank is committed to strengthening climate related investment worldwide and Vietnam is a key partner for the European Union in Asia. In recent years the European Investment Bank has supported transport, renewable energy and energy efficiency projects across Vietnam. I look forward to seeing at first hand the transformational impact of past EIB investment and discussing with Vietnamese government, city and financial counterparts how the EIB’s future engagement can be strengthened,” said Jonathan Taylor, ahead of the visit.

“The European Union and Vietnam cooperate closely to address global challenges and share a commitment to tackle climate change. As the EU Bank, the European Investment Bank has unique technical experience and finance expertise that are already contributing to sustainable development here in Vietnam and across Asia. I am confident that as the world’s largest financier for climate related investment the strengthened EIB engagement in Vietnam will unlock new investment across crucial sectors in the years to come,” said Ambassador Bruno Angelet, Head of the Delegation of the European Union to Vietnam.

Past transport financing by the European Investment Bank in Vietnam is supporting construction of new urban rail infrastructure in Hanoi and Ho Chi Minh. In recent years the EIB has also financed small scale climate related investment, including renewable energy projects and cutting energy use in industry, in partnership with Vietnamese banks.

The European Investment Bank is owned by 28 EU members. Since 1998, the bank has approved investments worth over 710 million EUR in Vietnam, mostly in projects on transport, climate and renewable energy.-VNA