HCMC – Vietnam and the European Investment Bank (EIB) are expanding collaboration on financing green energy projects as part of the Just Energy Transition Partnership (JETP).
Deputy Prime Minister Tran Hong Ha met with EIB Vice President Nicola Beer in Hanoi on March 13, where he welcomed the bank’s proposals for concessional loans to support offshore wind power and smart grid development.
During the meeting, Ha reaffirmed Vietnam’s commitment to strengthening its partnership with the European Union, describing Vietnam-EU ties as a model for peaceful cooperation. He expressed strong support for EIB’s financing proposals for energy projects that align with the country’s JETP commitments, particularly in offshore wind power and smart grid modernization.
Vietnam is currently revising its national power development plan for 2021-2030, aiming to expand baseload power sources, gas-fired electricity, biomass energy, and renewables to sustain long-term economic growth.
Ha emphasized that the country is actively seeking financial support for green projects, including emissions reduction in agriculture and transport infrastructure, such as urban rail and high-speed rail systems.
The EIB delegation also held discussions with key Vietnamese agencies, including the State Bank of Vietnam, the Ministry of Industry and Trade, the Ministry of Finance, and Vietnam Electricity Group, to explore financing options for energy transition initiatives.
Beer said the EIB would focus on providing concessional credit for green infrastructure, renewable energy, and emissions reduction, with particular support for small and medium-sized enterprises. She added that the bank remains committed to working with Vietnam to develop financial mechanisms that promote renewable energy adoption and climate adaptation.
