Vietnam seeks IFC’s support for renewable energy development

17:04 | 16/08/2019

Vietnam hopes to receive assistance from the International Finance Corporation (IFC) to early invest in power transmission lines at key areas to release capacity of power plants, said PM Nguyen Xuan Phuc.

vietnam seeks ifcs support for renewable energy development
PM Nguyen Xuan Phuc (R) and IFC CEO Philippe Le Houerou, Ha Noi, August 15, 2019 – Photo: VGP/Quang Hieu

PM Phuc stressed that the cooperation between Vietnam and IFC has flourished not only in financial funding but also comments on macroeconomic and financial policies.

The host leader took the occasion to brief his guest on the country’s current economic affairs with stable growth, good macroeconomic indexes, and increasing foreign investment. The cooperation and support from the IFC and WB have contributed to such achievements, he added.

PM Phuc said that the potential of the private sector in Vietnam. He said the sector can enjoy even stronger development with proactive support from the WB and IFC.

The Government leader also took the occasion to seek the IFC’s support for Vietnam to develop renewable energy and upgrade overloaded power lines in key areas.

He also called on the IFC to back Vietnam in environmental development, energy, clean water, finance, and poverty alleviation.

PM Phuc also invited the IFC manager to attend activities hosted by Vietnam as the Chair of ASEAN next year.

In reply, Mr. Le Houerou said that the IFC is strengthening its financial and securities consultation for Vietnam and the corporation is committed to working closely with Vietnamese ministries and sectors to optimize the country’s growth potential.

The guest leader said that Viet Nam is a suitable partner for the IFC to expand its cooperation with, highlighting an increase in IFC activities in Vietnam recently and the significant potential for bilateral collaboration in infrastructure.

The CEO said that the IFC can help Vietnam develop clean energy, build power lines, and boost the use of liquefied gas.

IFC said Mr. Le Houerou hopes to continue supporting the development of Viet Nam’s small- and medium-sized enterprises.

He hoped for assistance from the Vietnamese Government and the PM during such process.

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