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Vietnam Today

EU provides support for sustainable energy development

Released at: 13:40, 28/02/2018

EU provides support for sustainable energy development

Photo: EU Delegation in Vietnam

$132-million EU - Vietnam Energy Facility launched on February 27.

by Hong Nhung

The European Commission and the Ministry of Industry and Trade (MoIT) launched the EU - Vietnam Energy Facility on February 27, a technical assistance facility in support of the implementation of the EU’s Energy Sector Policy Support Program, worth $132 million.

The program aims to enhance access to sustainable energy in rural areas in Vietnam and contribute to a more sustainable energy sector by promoting efficient, clean and renewable energy available to all citizens.

The EU-Vietnam Energy Facility, set-up with co-financing from the EU and the German Federal Ministry for Economic Cooperation and Development-BMZ in the framework of Phase II of the Renewable Energy and Energy Efficiency Project, will be operated by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in close cooperation with MoIT.

“Our ambitious program of $132 million will not only support the government to achieve its objective in the 2013-2020 program on electricity supply to rural, mountainous and island areas to provide reliable and sustainable electricity access to up to 1.2 million households in rural areas, but will also enhance the governance of the energy sector, to facilitate the shift to a more sustainable energy development path in Vietnam,” Mr. Stefano Manservisi, the European Commission Director-General of International Cooperation and Development, told the launch ceremony.

“Vietnam, one of the most exposed countries in the world to climate change, is facing major energy challenges to maintain the path of its socioeconomic development. While the EU response cannot address all of these challenges, it can together with other development partners influence policies and choices that would aim at making the sector cleaner and more sustainable.”

“Vietnam’s energy sector has developed rapidly and sustainably in recent years,” Minister of Industry and Trade Tran Tuan Anh said. “This development is a key factor in maintaining the country’s high socioeconomic growth.”

“The government is committed to socioeconomic development and ensuring the provision of electricity to all of the country, including remote areas, where 2 per cent of the population still lack access to electricity. In this context, the government respects and is thankful to the EU for its support in sustainable energy development through its Multi-Annual Indicative Program for Vietnam for the 2014-2020 Period and particularly the Financing Agreement for the Energy Sector Policy Support Program to Enhance Access to Sustainable Energy in Rural Areas of Vietnam, signed on December 1, 2017.”

The EU indicative grant allocation of $423 million supporting Vietnam’s energy sector during the 2014-2020 period is the largest grant contribution provided by the EU to date to a single country in support of sustainable energy. It reaffirms its leading role in supporting the fight against climate change and in the promotion of renewable energies. In Vietnam, the EU is committed to further contributing to a more sustainable energy sector by promoting efficient, clean and renewable energy.

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