Denmark funds VN’s energy saving initiatives

VGP - Denmark will support energy saving initiatives in the private sector in Viet Nam under a programme worth US$6.5 million.

June 30, 2015 9:28 AM GMT+7

The Danish Embassy in Viet Nam have signed an agreement with three Vietnamese banks to support energy efficiency initiatives for small and medium sized enterprises (SMEs).

Accordingly, small and medium sized enterprises (SMEs) operating in brick making, ceramics, and food industries can access loans from those appointed banks.

They are enabled to access additional funding worth half of their loans to pour into energy-efficient projects.

Furthermore companies that invest in such projects can earn rebates from 10% up to 30% of their total investment cost on achievement of the total energy savings.

Danish Ambassador John Nielsen said that over the past five years, Denmark has supported Viet Nam by investing nearly US$30 million in sustainable energy and energy saving ideas, adding that theprogramme would benefit as many as 300 projects in Viet Nam by 2016.

Denmark will support 100-130 projects before the end of 2016 through the Green Investment Facility, he expects.

The project will run until June 2017 and the Australia and New Zealand Banking Group (ANZ) in Viet Nam has been authorised to manage the fund.

By Vien Nhu