HANOI - The World Bank on Thursday signed a loan agreement with Vietnam
Electricity Group to fund the Vietnam distribution efficiency project, which
aims to provide electricity users with better quality and reliable electricity
services, and to reduce greenhouse gas emissions.
“The efficiency and modernization
investments under this project will improve the reliability of energy supply to
industries and households and contribute to Vietnam’s socio-economic
development,” said Victoria Kwakwa, the World Bank Country Director for
Vietnam.
“Successful implementation of
this project will help strengthen Vietnam’s competitiveness and environmental
sustainability, which are also key pillars of the World Bank’s strategy for
Vietnam in the 2012 – 2016 period,” she said.
The project, costing US$800
million with US$449 million supplied by the global lender, covers the
construction and reinforcement of electricity distribution networks and introduction
of smart grid technologies.
It also includes a technical
assistance and capacity building facility for the Electricity Regulatory
Authority of Vietnam and five provincial power companies to develop efficient
electricity tariffs and design effective energy demand programs.
Apart from US$449 million
supplied by the World Bank, the Clean Investment Fund will provide US$30
million to support the implementation of smart grid technologies, while the
Australian Agency for International Development provides US$8 million in
technical and capacity building grants. The remaining US$313 million will come
from the Government of Vietnam in counterpart funds.
The World Bank has closely
collaborated with the Government of Vietnam over the last decade to expand the power
network and to provide electricity to all parts of the country. As a
consequence, access to electricity has increased from 50% in 1996 to about 97%
in 2011.
Minh Duc - The Saigon Times Daily
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