The World Bank's Clean Technology Fund will provide a US$30 million loan to fund smart grid distribution in Viet Nam, as part of a US$800 million project to improve energy distribution and reliability, and reduce greenhouse gas emissions in the country.
11 September 2012: The World Bank has approved funding to improve electricity provision services and reduce greenhouse gas emissions in Viet Nam, and through a Clean Technology Fund loan, added US$30 million to support the implementation of smart grid electricity distribution technologies.
Part of a US$800 million project partially funded by the the World Bank to support Viet Nam’s National Energy Development Strategy up to 2020, the Bank will assist in the construction and reinforcement of electricity distribution networks and a technical assistance and capacity building facility that will support national authorities and utility companies in the development of efficient electricity tariffs and energy demand programs. The loan from the Clean Technology Fund (CTF) has a service charge of 0.75 percent per annum, a maturity period of 20 years and 10-year grace period. [World Bank Press Release]