Viet Nam and the European Investment Bank signed a memorandum of understanding to support the implementation of the Just Energy Transition Partnership (JETP) in Viet Nam, signifying a mutual commitment to put in place a multi-projects credit facility worth €500 million. Once this credit facility is finalised and inked in the near term, it will establish a framework loan that will finance projects supporting decarbonisation and energy transition.
In addition, the EU will make available €16.6 million in technical assistance for Agence Française de Développement (AFD) to support Electricity Viet Nam (EVN) in the preparation and implementation of projects linked to JETP. The technical assistance facility will accompany a total of €1 billion sovereign and non-sovereign loans provided by Team Europe (AFD, KfW and EIB).