IFC, Techcombank co-fund energy saving plan of Vietnamese firms

IFC, a member of World Bank, and Techcombank on May 25 announced a general agreement on funding total $50 million to develop the energy saving products for Small to Medium Enterprises (SMEs) in next two years.

In which, $25 million comes from IFC and another half from Techcombank.

Among $25 million of IFC, $1 million is raised from Earth Fund of WB.

As planned, Techcombank will provide long term loans to help SMEs upgrade equipments and technologies, increase the energy saving efficiency, expand capacity, cut down costs and reduce the waste gas.

The investment deal of IFC is matched with Vietnam’s national energy preservation programme that will be applied on clean production investment projects.

IFC sets up the partnership with Techcombank from 2003.

CafeF

Tags: IFC, Techcombank, Vietnam energy saving