vietexplorer0025

The climate financing package will help develop Viet Nam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network – Illustration photo The package targets to support Viet Nam’s bid to reach net-zero greenhouse gas emissions by 2050 and facilitate the high-tech automobile manufacturing industry here. The climate financing comprises 7-year tenor financings, including a US$20 million loan funded by ADB, parallel loans of US$87 million facilitated by ADB as mandated lead arranger, and concessional financing of up to US$28 million, reported the VGP. The climate financing is certified by the Climate Bonds Initiative, a scientifically-based standard for labelling bonds, loans and other debt instruments which contribute to addressing climate change. o far, ADB has partially offset the project’s risks by utilizing concessional financing through its managed trust funds comprising loans from the Australian Climate Finance Partners...