WB supports VN’s power sector reform
13:42 | 02/07/2014

VGP – The World Bank’s Board of Executive Directors has approved a loan package of US$ 200million and a credit of US$ 70 million for Viet Nam to support power sector reforms, climate resilience, and lower carbon intensity development.

Of the total, the US$200 million sum will go to the Third Power Sector Reform Development Policy Operation, which supports six policy areas, including the full commercial operation of Viet Nam’s competitive generation market; the entry of new generation companies in the market.

The third Climate Change Development Policy Operation will receive US$70 million, aiming to support the Government efforts to address climate change by adopting policies and strengthening institutional capacity to promote climate resilience and lower carbon intensity development. It is the third of a series of three operations of US$70 million each, supporting three pillars, covering policies in better water management, energy efficiency, and policy and institutional development.

“These two operations will contribute to Viet Nam’s efforts to move towards more environmentally sustainable growth as envisaged in the Socio-economic Development Plan for 2011-2015, by supporting the emergence of a more modern and efficient power market and helping Government to put in place policies across several sectors to enhance the country’s climate resilience,” said Victoria Kwakwa, World Bank Country Director for Viet Nam.

Viet Nam is one of the world’s most vulnerable countries to climate change. Natural disasters and sea-level rise already have significant economic and human costs, with natural disasters alone costing as much as 1.5% of global domestic product per year./.

By Kim Loan

 

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