(VOV) – A credit project to fund the Vietnam Electricity Distribution Efficiency Project was signed in Hanoi on Thursday between the Electricity of Vietnam and the World Bank. The project will provide electricity users across Vietnam with better quality and reliable services, and reduce greenhouse gas emissions through efficient grid improvements. 800 million USD from the World Bank, the Clean Investment Fund, the Australian Agency for International Development, and the Government’s counterpart fund will be granted for the implementation of smart grid technologies, technical assistance, and capacity building.

The signing ceremony of 800 million USD aid for Vietnam's greater electricity access  (Photo: taichinhdientu.vn)

Victoria Kwakwa, the World Bank Country Director for Vietnam, said the efficiency and modernization investments under this project will improve the reliability of energy supply to industries and households and contribute to Vietnam’s socio-economic development.