EIB to double preferential loans for Vietnam
(VOVWORLD) - The European Investment Bank (EIB) will double its preferential loans for Vietnam, Kris Peeters, the EIB’s Vice President, said when talking about the green transition process and the bank’s support projects in Vietnam at Friday’s press conference in Hanoi.
 Kris Peeters, EIB’s Vice President. (Photo: VOV)
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The visiting vice president said the EIB is building a roadmap for all investments to serve green transition projects.
As the Vietnamese Government has pledged to achieve net zero emissions by 2050, the enhancement of cooperation between Vietnam and the EIB will be important to both sides, according to Mr. Peeters.
“We has negotiated with the Ministry of Finance a framework loan of 500 million euros. This is how the procedure of that is. That is the reason why we’re negotiating a MoU and we hope to sign this MoU as soon as possible,” said Mr. Peeters.
Since 1997 the EIB has backed 7 investment projects in Vietnam worth more than 550 million euros. Highlight projects are the Metro Line 3 in Hanoi and Metro Line 2 in Ho Chi Minh city.
One of the most important upcoming cooperative projects between Vietnam and the EIB is the Bac Ai pump-storage hydropower project in Ninh Thuan province.
The two sides are negotiating to come up with an investment cooperation framework and specific implementation method.
Vice President Peeters said that there is huge potential for cooperation between the two sides, especially because Vietnam is becoming an important partner in green transition in Southeast Asia.