WB to lend US$500 million for VN’s power grid

19:02 | 08/08/2014

VGP – The World Bank has approved a US$500 million loan to help Viet Nam improve electricity transmission facilities across the country.

The project will finance the construction of 220-500 kV transmission lines and substations to increase the transmission capacity and reliability of the electric grid.

Areas surrounding Ha Noi, greater  Ho Chi Minh City, the Mekong Delta and the central region will benefit from the project and the funding will make up 15% of Viet Nam’s transmission network growth in the 2015-2020 period.
 
In addition, the project will support Smart Grid technologies for monitoring, control, and protection equipment to improve reliability and reduce electricity outages.

The total financing needed by the project is estimated at US$731.25 million, of which US$500 million will be funded by the International Bank for Reconstruction and Development, the WB Group’s lending arm for middle-income countries./.

By Ngoc Van