Vietnam secures World Bank loan to improve industrial energy efficiency

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The World Bank has approved a $102 million loan to the government of Vietnam to improve energy efficiency in the industrial sector.
 
Announcing the funding last week, the World Bank said that it would support the effort of industrial enterprises in Vietnam to adopt energy-efficiency technologies and practices.
 
Under the terms of the loan, businesses will be able to access a new line of credit to fund their purchases of energy-efficiency and production-optimisation technologies.
Such technologies can help to monitor and manage the amount of energy industrial enterprises use, reduce their energy consumption and production costs, and increase their overall competitiveness in the domestic and international markets.
 
"We are committed to support Vietnam's drive to meet its future energy demand, and improving energy efficiency is the single best and cheapest option, because it will help consumers save energy and reduce the need for new thermal power generation, while also reducing pollution and mitigating the risks of climate change," commented Ousmane Dione, the World Bank's country director for Vietnam. "If stronger programmes and policies are put in place, businesses would also have the incentive to cut down on wasteful practices and adopt more energy-efficient technologies."
 
Funding will be provided to participating financial institutions, which will then lend to industrial enterprises to invest in energy-efficiency projects.
 
Of the total funds available, $100 million comes from the World Bank's International Bank for Reconstruction and Development, the financing resource for middle-income countries. Another $1.7 million is from the International Development Association, the Bank's fund for the poorest countries. Further funding will come from the Vietnam government and participating financial institutions.
 
Find some example of applying energy management software to achieve energy efficiency in industrial production HERE
 
Energy in Vietnam

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