The German government will provide a soft loan worth 120 million EUR, equivalent to 180 million USD, to support Vietnam’s efforts to cope with climate change. German Ambassador to Vietnam Rolf Schulze announced the loan at a press conference in Hanoi on Dec. 1, where the German Embassy also introduced a new website on development cooperation between the two nations.
Schulze told reporters that Vietnam is one of the countries forecast to be most seriously affected by the adverse impacts of global climate change.
As long-term partners in terms of environmental protection and combating climate change, the German government has approved the soft loan to finance the effective use of energy in Vietnam’s rural areas, he said.
The project is designed to upgrade and expand rural electricity grids, reduce electricity losses during the transmission process and ensure that both price and quality for rural customers are the same as for urban areas.
Approximately 2.9 million households in 45 provinces and cities nationwide are expected to benefit from the project, which will help the country reduce electricity losses from 30 percent to 15 percent, saving 400 million kWh a year (equivalent to 350-400 billion VND).
The ambassador said the webpage on Germany’s development cooperation with Vietnam was launched as of Dec. 1 at www.gdc-vietnam.org.
With three versions, in Vietnamese, German and English, the site will provide up-to-date information on sustainable economic development, environmental protection, healthcare and the sustainable use of natural resources.