Vietnam Scaling Up Energy Efficiency Project (WB-P164938)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
SOCIALIST REPUBLIC OF VIETNAM
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 262.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 22, 2019

Disclosed by Bank Jun 19, 2019


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Project Description

The Project complements the existing Vietnam Energy Efficiency for Industrial Enterprises Project (VEEIE) by supporting similar energy efficiency investments in the industrial sector and sharing implementation arrangements. According to the bank document, the project consists of 2 components: 

Component 1: Risk Sharing Facility (RSF). The RSF will provide partial credit guarantees (RSF guarantees) to participating financial institutions (PFIs) to cover potential defaults on loans (PFI Loans) provided by PFIs to industrial enterprises (IEs) and energy service companies (ESCOs) to finance eligible energy efficiency sub-projects (Sub-Projects). RSF Guarantee is expected to mobilize private sector lending and equity and contribute to opening up a market for commercially financed energy efficiency investments. IE/ESCO borrowers would benefit from access to financing at competitive terms and with low collateral requirement.

Component 2: Technical Assistance (US$8.3 million GCF Grant)

Investment Description
  • Green Climate Fund (GCF)
  • World Bank (WB)

Co-financing:

Green Climate Fund US$ 11.3 million
Commercial Financing Guaranteed US$ 100.50 million
Unguaranteed Commercial Financing US$ 150.50 million

Contact Information

1/Borrower/Client/Recipient

SOCIALIST REPUBLIC OF VIETNAM
Name: An Ha Hai
Title: Deputy General Director
Email: an.hahai@sbv.gov.vn

2/Implementing Agencies
General Directorate of Energy, Ministry of Industry and Trade
Name: Cuong Dang Huy
Title: General Director
Email: CuongDH@moit.gov.vn

FOR MORE INFORMATION CONTACT

The World Bank

1818 H Street, NW Washington, D.C. 20433

Telephone: (202) 473-1000

Web: http://www.worldbank.org/projects

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.