The French Development Agency (AFD) is seeking to develop green financing in Vietnam and provide technical support to the State Bank of Vietnam (SBV) and banks in order to fulfill the commitments Vietnam made at COP26 last November to reach net-zero emissions by 2050, according to Mr. Philippe Orliange, Executive Director of the AFD. It will conduct market research this year to assess the ability to provide multi-sectoral credit to a number of banks in the country.

Electricity of Vietnam (EVN) has been granted a concessional loan of €70 million ($80.34 million) without government guarantee from the French Development Agency (AFD), accounting for about 20 per cent of total investment in the Hoa Binh hydropower plant expansion project. This project and other expansions of hydropower projects are part of EVN’s green and sustainable energy development strategy.

Agence Française de Développement (AFD) is planning to strengthen cooperation in the implementation of its capital projects in Vietnam, especially the implementation of green credit lines (SUNREF) to support businesses investing in the field of environmental protection and green growth. Since 2017, it has granted BIDV $100 million under the SUNREF program.