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IFC funds energy-efficiency loans for small businesses
An agreement to set up a US$50 million energy efficiency lending facility for small- and medium-sized enterprises in Viet Nam was signed on Tuesday by the International Finance Corporation (IFC) and Techcombank.
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Nuclear energy exhibition
The 4th International Exhibition on Nuclear Energy will be held in Ha Noi this Thursday through Saturday, May 27-29, by the ministries of Science and Technology, and of Industry and Trade.
The exhibition will focus on gathering information and optimal technological and project management for the 4,000MW Ninh Thuan Nuclear Power Project, planned to commence construction in 2014 for a 2020 completion date.
Under a forecast by the Ministry of Industry and Trade, demand for electricity nationwide will reach 562 billion kWh by 2030, but supplies will only be able to meet 293 billion kWh, spurring the National Assembly to approve the nuclear project. | Under the agreement, the IFC will provide $24 million, plus an additional $1 million from the Earth Fund. Techcombank would cover the rest of the fund over the next two years.
Techcombank would provide long-term financing to support businesses to replace equipment and upgrade technology and systems for improved efficiency, productivity, cost-saving and reduced emissions, according to Techcombank CEO Nguyen Duc Vinh.
"This is the right time to help our customers become more competitive while coping with energy price volatility and the gap of energy demand and supply," said Vinh.
"Expanding availability of long-term finance and designing specialised lending products for energy efficiency investments will help accelerate the modernisation process in enterprises and move the country economy towards a low-carbon growth path," said Simon Andrews, IFC regional manager for Viet Nam, Laos, Cambodia and Thailand. The national programme on energy conservation has set a target of achieving annual energy saving equal to 5-8 per cent of total national energy consumption during 2010-15. The lending facility would also promote cleaner production investments that help reduce waste and resource consumption, according to the IFC.
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