Politics

Vietnam bolsters cooperation with European Investment Bank in green energy projects

Deputy Prime Minister Tran Hong Ha affirmed that Vietnam has always placed great importance on and is committed to further strengthening its relationship with the EU and enhancing cooperation with the EIB.

Deputy Prime Minister Tran Hong Ha (R) and Vice-President of EIB Nicola Beer at their meeting in Hanoi on March 13 (Photo: VNA)
Deputy Prime Minister Tran Hong Ha (R) and Vice-President of EIB Nicola Beer at their meeting in Hanoi on March 13 (Photo: VNA)

Hanoi (VNA) - The European Investment Bank (EIB) will continue to share its experience with Vietnamese partners in mobilising green financial resources, building incentive mechanisms, and providing innovative financial solutions to support renewable energy, emission reduction, and climate change adaptation projects, its Vice-President Nicola Beer affirmed on March 13.

At a meeting with Deputy Prime Minister Tran Hong Ha in Hanoi, she shared that during their working visit to Vietnam, the EIB delegation met and worked with leaders from the State Bank of Vietnam, the Ministry of Industry and Trade, the Ministry of Finance, and the Vietnam Electricity Group to discuss preferential loans for green energy projects under the Just Energy Transition Partnership (JETP) framework.

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Deputy Prime Minister Tran Hong Ha, Vice-President of EIB Nicola Beer and officials pose for a group photo at the meeting. (Photo: VNA)

In the coming time, the bank will focus on promoting preferential loans for green infrastructure and green energy projects, supporting the green transition, decarbonisation, and emission reduction for small- and medium-sized enterprises (SMEs).

Ha affirmed that Vietnam has always placed great importance on and is committed to further strengthening its relationship with the EU and enhancing cooperation with the EIB.

He appreciated the bank's proposal regarding credit loans for Vietnam's energy projects aimed at implementing the JETP, particularly offshore wind power projects and smart grid initiatives.

The Deputy PM also informed the EIB Vice-President about green projects that the bank can consider for credit support, such as reducing emissions in agricultural production, notably a project on developing 1 million hectares of high-quality and low-emission rice in association with green growth in the Mekong Delta region by 2030, and building urban and high-speed railways./.

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