WB helps improve electricity supply in VN

10:03 | 13/11/2014

VGP – The State Bank of Viet Nam (SBV) and the World Bank on November 12 signed a loan worth US$500 million to improve the reliability and quality of electricity supply in key economic zones in the country.

Photo: VGP/Huy Thang

Improving energy efficiency is critical for Viet Nam’s ability to meet energy demand to power growth and enhancement in life’s quality, said WB Country Director Victoria Kwakwa.

The loan will finance transmission lines and substations, contributing about 15% of the electricity transmission network by 2020.

The project will meet the demands for key economic zones in the North, Central and South of the nation as well as guaranteeing the national energy security.

The project will be invested with US$897 million, including US$500 million coming from  the International Bank for Reconstruction and Development, a member of the WB, said Governor of the SBV Nguyen Van Binh.

By Thuy Dung