Vietnam Captures Wave of Multilateral Green Funding

Jun 2021

Vietnam is securing a fresh wave of green funding from multilateral actors. In May 2021, the Asian Development Bank signed a USD 116 million loan for three wind farms to be built in the central province of Quang Tri, with a total of 144 MW. The goal is to increase the South East Asian country’s wind power capacity by 30%.

In the same month, the International Finance Corporation, a member of the World Bank Group, announced the provision of USD 57 million for a private company to develop two wind power projects scheduled to come on stream in Vietnam by the end of 2021.

In a parallel development, the Green Climate Fund provided over USD 30.2 million as non-refundable assistance to help Vietnam deal with climate change impacts. The fund will be allocated to a project strengthening the resilience of smallholder farmers to water insecurity in the central highlands and south-central coast regions.

(Sources: VietnamPlus; Vietnam Insider; The Phnom Penh Post)