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EVN has effectively used capital from global financial institutions

EVN has effectively used capital from global financial institutions - 

On September 22, 2020, in Hanoi, Mr. Tran Dinh Nhan - General Director of Electricity of Vietnam (EVN) had a working meeting with Mr. Andrew Jeffries – ADB Country Director for Vietnam. Discussing with EVN leaders, ADB representative in Vietnam valued that EVN has effectively used support funds from the global financial institutions including ADB and international partners.


At the meeting, EVN General Director congratulated Mr. Andrew Jeffries on his appointment as ADB Country Director for Vietnam.

Emphasizing on the effective coordination between the two sides in recent years, EVN hopes that Mr. Andrew Jeffries will offer many appropriate initiatives, solutions and activities to further promote cooperation and long-term partnership between EVN and ADB.

On this occasion, EVN General Director also exchanged the electricity supply situation for socio-economic development and a number of relevant information about the current electricity market in Vietnam. Mr. Tran Dinh Nhan asked ADB to continue promoting financial cooperation for supporting EVN to arrange investment for power project development to ensure sufficient electricity supply for socio-economic development of the country.

EVN General Director also informed that EVN is currently facing many major challenges such as: The electricity demand has grown steadily over the years and the power system has no reserve capacity. Besides, the construction progress of many power plants (outside EVN) is behind schedule, the investment capital arrangement for a number of the traditional power plants is facing many difficulties, leading to the power shortage risk in the period 2021 - 2025.

The EVN General Director received the ADB Country Director for Vietnam.

Mr. Andrew Jeffries highly appreciated the achievements and efforts of EVN in recent years and said that EVN has effectively used the support capital from global financial institutions including ADB and international partners. The figure of 2.7 billion USD financed by ADB to EVN during recent 27 years (from 1994 to present) is one of the evidences.

The ADB Country Director for Vietnam also informed about the ADB current plan to support more than $ 500 million to invest in power transmission projects in the Southern region and Bac Ai Hydropower storage project. In addition, ADB is also discussing with Hanoi Electricity Corporation (EVNHANOI) to finance activities in the 5-year plan from 2021 to 2025 of this corporation.

Regarding the proposals of EVN, the new ADB Country Director for Vietnam affirmed: ADB will continue to implement cooperation programs with EVN, strengthen bilateral relationships to help the power sector in general and EVN in particular sustainably develop.

VER.

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