Standard Chartered and USAID signed a memorandum of understanding. (Photo courtesy of the bank) The MoU will establish a five-year partnership to advance the country's goal ofnet-zero emissions by 2050.
USAID Mission Director for Vietnam Aler Grubbs, said: “Through this new MoU,USAID will collaborate with Standard Chartered Bank (Vietnam) Limited tosupport the private sector to develop Vietnam's advanced clean energy.
"This partnership is a model to expand collaboration with financialinstitutions and help accelerate the country’s goal of net-zero emissions by2050.”
Nguyen Thuy Hanh, deputy general director, head of Corporate and InvestmentBanking, Standard Chartered Bank Vietnam, added: “We believe that finance canenable and accelerate the just transition to net zero, towards anature-positive economy. Our MoU with USAID is part of our commitment tosupporting our clients and helping them access to sustainable financing andachieve net-zero goals.
"We will continue to work closely with our clients and our partners toprovide access to finance to where it matters most and to contribute to thesustainable development of Vietnam.
USAID will collaborate with Standard Chartered to mobilise private sectorinvestment in advanced energy systems such as rooftop solar, utilitymodernisation, and power trading. USAID support will be in the form oftraining, capacity development, transactional support, and matchmakingactivities.
Standard Chartered will introduce to USAID projects and clients that may besuitable for the latter's programmes of providing technical and/or othersupport. The bank seeks out opportunities to provide sustainability-focusedproducts and services in support of Vietnam’s clean energy transition includingbut not limited to financing arrangements, financial advisory services,bilateral loans, syndicated loans, and bond issuances for qualified projects.
Standard Chartered is a fervent supporter and aligned with the VietnameseGovernment’s ambitions to be Net Zero by 2050.
With 120-year history in Vietnam, Standard Chartered’s core competence is toleverage and utilise its significant network to deliver FDI to Vietnam and tofacilitate Vietnamese clients who want to expand into global markets to pursuegrowth ambition.
Under the Comprehensive Strategic Partnership, the US is a committed partner toVietnam in advancing the country’s transition to a clean, secure, andmarket-based energy sector./.
VNA
