WB Vows Continued Support for Vietnam’s Renewable Energy Projects
The World Bank (WB) pledges to continue providing capital, technical resources, and expertise support for Vietnam’s renewable energy projects, including the REACH initiative, at a meeting with Deputy Minister of Industry and Trade Nguyen Hoang Long in Hanoi on October 1, local media reported.
WB Country Director for Vietnam, Cambodia, and Laos Mariam Sherman highlighted its involvement in promoting Vietnam’s sustainable energy and smart transportation projects.
Deputy Minister Long appreciated the WB’s efforts in providing financial and technical resources for many projects that serve Vietnam’s socio-economic development, particularly energy infrastructure projects implemented by the Ministry of Industry and Trade. He emphasized that the ministry would continue to create the best conditions for cooperation activities.
Both sides discussed challenges in ongoing cooperation, particularly in the REACH project, which aims to enhance renewable energy transmission. The parties are committed to accelerating the implementation of this project to ensure its success.
The REACH project focuses on integrating renewable energy into the power grid, with key components including the 500kV Krongbuk-Tay Ninh 1 transmission line and SCADA/EMS phase 4 system management.