UK lends, supports $121 million in green finance

Announcing the UK-Vietnam Clean Energy and Green Finance Partnership during the official visit of General Secretary To Lam .

According to information from the British Embassy, at the Vietnam - UK Economic Summit, the two countries signed two Memorandums of Understanding, officially launching the Clean Energy and Green Finance Partnership, to promote cooperation in energy transition, sustainable finance development and climate change response.

British Ambassador Iain Frew and Deputy Minister of Industry and Trade Nguyen Hoang Long presented the Memorandum of Understanding on Clean Energy Partnership

The two agreements were signed during General Secretary To Lam’s official visit to the UK. The event marked an important step in upgrading the bilateral relationship to a Comprehensive Strategic Partnership, with a focus on the Environment, Energy and Green Transition pillars.

Accordingly, the Memorandum of Understanding on Clean Energy Partnership was signed between the UK Department for Foreign Affairs and Development and the Vietnamese Ministry of Industry and Trade. The cooperation contents include supporting the development of renewable energy, gradually reducing coal power, mobilizing finance for green projects, promoting innovation and perfecting policies to attract investment in clean energy.

To support the implementation of the goals under the Just Energy Transition Partnership (JETP), the UK announced 11 technical and financial initiatives . These include a $50 million green loan from the UK International Investment Corporation (BII) to VPBank, $24 million in funding for rooftop solar and electric vehicles from the Private Infrastructure Development Group (PIDG), and a $47 million guarantee for the first green bond in the water sector in Vietnam, along with programs to support offshore wind power development, coal job transition and low-emission transport policy.

The second MOU - Green Finance Partnership - was signed between the Vietnamese Ministry of Finance and the UK Department for Foreign and Commonwealth Affairs, to provide technical support to build green capital markets, attract green finance investment and connect expertise from international financial institutions and financial centres such as London.

British Ambassador Iain Frew and Minister of Finance Nguyen Van Thang sign the Green Finance Partnership Memorandum of Understanding

British Ambassador to Vietnam Iain Frew said that the establishment of these two partnerships reflects the strong commitment between the two countries to promoting sustainable and equitable growth. "Through strategic cooperation and innovative financial instruments, we expect to work with Vietnam to realize its net zero emissions targets and comprehensive energy transition," he said.

The Clean Energy and Green Finance Partnership is expected to open a new chapter in bilateral cooperation, while creating a solid foundation for Vietnam in the process of green development and global economic integration.

According to nld.com.vn

Source: https://baovinhlong.com.vn/kinh-te/202511/anh-cho-vay-ho-tro-121-trieu-usd-tai-chinh-xanh-d9b0524/