UK begins second phase of climate finance accelerator in Vietnam
The UK Embassy in Vietnam has announced a new wave of capacity-building support for low carbon projects that can benefit communities across the Southeast Asian nation.
CFA is a 11.8-million-GBP technical assistance programme funded by the International Climate Finance (Photo: dangcongsan.vn)
Hanoi (VNA) - The UK Embassy in Vietnam has announced a new wave ofcapacity-building support for low carbon projects that can benefit communitiesacross the Southeast Asian nation.
Launched in the country in 2022, the climate finance accelerator (CFA) is atechnical assistance programme funded by the UK government that respondsdirectly to the urgency and scale of the climate crisis.
It brings together project developers and financial expertswho can build and finance climate projects at scale, offering technicalassistance and support with financial models and pitch materials, as well asadvice about enhancing gender equality and social inclusion (GESI).
British Ambassador to Vietnam Iain Frew emphasised thelaunch of the next phase of CFA Vietnam as a testament to the success andimpact of the first phase.
The UK is committed to supporting Vietnam in its transitionto a net zero, climate-resilient and nature-positive future. The UK's own lowcarbon transition has involved the active participation of the private sectorand green finance, noted the diplomat.
The CFA is a 11.8-million-GBP (14.8 million USD) technicalassistance programme funded by the International Climate Finance (ICF), throughthe UK Government's Department for Energy Security and Net Zero (DESNZ).
It is currently carried out in nine countries, namely Colombia,Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye, and Vietnam, andis working to develop a sustainable pipeline of bankable, low carbon projectsin each country.
The first one of CFA Vietnam included nine innovative lowcarbon projects seeking a total of over 500 million GBP investment from sectorsincluding renewable energy, resource/energy efficiency, e-mobility, circulareconomy and waste management./.
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CFA is a 11.8-million-GBP technical assistance programme funded by the International Climate Finance (Photo: dangcongsan.vn) 
