Proparco and EVNFinance will support projects with climate co-benefits in Vietnam
published on 06 August 2021
Through a $10 million loan, Proparco aims to help EVNFinance increase its support to renewable energy projects.
EVN Finance is a financial non-banking institution specialized in the financing of the Vietnamese energy sector, with a particular focus on the development of renewable energy.
In a context of fast-growing energy needs, Proparco’s $10 million loan aims to help EVNFinance support projects with climate co-benefits: renewable energy projects such as solar rooftops and photovoltaic farms.
This would be the first partnership between Proparco and EVNFinance.
More than 100 SMEs in the energy sector are expected to be financed through this operation. It should prevent the emission of 181,000 tCO2eq over the lifetime of the project while supporting hundreds of jobs in an industry that is essential to sustainable development.
This project will thus contribute to Sustainable Development Goals #7 (Clean Energy), #8 (Decent Work and Economic Growth) and #13 (Climate Action).
« Proparco is strongly committed to supporting private players in their efforts to fight climate change. Our team is very proud to start a relationship with EVNFinance which is leveraging its experience in the energy sector to foster energy transition in Vietnam through this loan “ said Magali Roux, Head of Proparco’s Regional office for North and South-East Asia.
