The World Bank’s Board of Executive Directors on June 30 approved a combined $270 million loan for Vietnam to support power sector reforms and climate change response. The credit package includes $200 million for power sector and the remaining for the climate resilience, and lower carbon intensity development, the bank said in a press release. The $200 million will help the government continue the Third Power Sector Reform Development Policy Operation, including six policy areas on the operations of a competitive generation market with new and independent generation companies and regulations to boost transparency. The remaining money will enable Vietnam to carry out the third Climate Change Development Policy Operation to support the government in addressing climate change by adopting policies and strengthening institutional capacity to promote climate resilience and lower carbon intensity development. Vietnam needs roughly VND929.7 trillion ($44.27 billion) for the power sector by 2020 while it is one of five countries hardest hit by climate change. (www.worldbank.org [1] July 1)
