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Germany finances Vietnam EUR 350 million for grid power development

Germany finances Vietnam EUR 350 million for grid power development - 

Germany committed to finance Vietnam EUR 350 million for implementing Project “Power grid Efficiency into medium and small cities”. The fund divided to EUR 200 million for stage I and EUR 150 million for stage II.

Germany committed to finance Vietnam EUR 350 million for implementing Project “Power grid Efficiency into medium and small cities”. The fund divided to EUR 200 million for stage I and EUR 150 million for stage II.

The German government finance to Vietnam with EUR 350 million for power grid efficiency project.

On October 5, 2016 in Hanoi, on Vietnamese government’s authority, the Ministry of Finance (MoF) held an official signing ceremony of the Agreement between the German and Vietnamese Governments on Financial Cooperation in 2014 -2015 years.

The total sum of this Financial Cooperation Agreement is nearly EUR 380 million, of which beside 350 million for power grid efficiency project, there are 9.44 million for vocational training reform program and 10.24 million (loan) plus 10 million (grant fund) for the project of sustainable recovery and management of forests in Central and North of Vietnam.

It is necessary to say, this is the largest financial commitment signed in Vietnam in the framework of a financial cooperation agreement that affirms a great effort of German government in assisting Vietnam to realize the green growth strategy, vocational training reform, and sustainable forest management and recovery.

Mr. Tran Xuan Ha, Deputy Minister of Finance assesses that the agreement has shown the interest and support of the German government for Vietnam in process of the national socio-economic development through the energy, environmental protection and vocational training projects.

VietnamEnergy.vn

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