WB approves loan to improve Vietnam’s electricity transmission
The World Bank (WB) has approved a 500-million-USD loan to help increase the capacity, efficiency and reliability of the electricity grid in Vietnam’s key economic areas.
The World Bank (WB) has approved a 500-million-USD loan to helpincrease the capacity, efficiency and reliability of the electricitygrid in Vietnam’s key economic areas.
Theproject aims to build 1,000 kilometers of transmission lines and 220kVand 500kV substations in the greater Hanoi area, the greater Ho Chi MinhCity area, the Mekong Delta and the central region.
It will finance about 15 percent of Vietnam’s transmission networkgrowth, targeting key investment needs in the areas where transmissionoverloads are already present or will happen in the very short time.
Additionally, the project will support Smart Gridtechnologies to monitor, control and protect equipment, improvingreliability and reducing electricity outages.
Meanwhile, the National Power Transmission Company will be provided withassistance in raising its operational and financial independence.
The total capital requirement of the project is estimated at 731.25million USD, of which 500 million USD will be funded by theInternational Bank for Reconstruction and Development – a WB lending armfor middle-income countries. The remaining will be financed by theVietnamese Government.-VNA
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