Business

German bank funds rural power project in VN

Tens of thousands of rural residents in four provinces of Vietnam will get better access to electricity supply via a newly-launched project funded by a German bank.
Tens of thousands of rural residents in four provinces of Vietnamwill get better access to electricity supply via a newly-launchedproject funded by a German bank.

The project, whichwas kicked off on December 12 in the central province of Nghe An,covers the upgrading and building of new power grids in Nghe An andthree northern provinces of Bac Giang, Vinh Phuc and Phu Tho.

It has a total investment of over 1.94 trillion VND (about 92 millionUSD), of which almost 1.5 trillion VND is sourced by a loan from theGerman Resconstruction Credit Institute (Kreditanstalt fur Wiederaufbau,KFW).

Being implemented by the Northern PowerCompany under the State-owned Electricity of Vietnam, the project isscheduled to be completed by the end of next year.-VNA
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