The Socialist Republic of Vietnam has received a grant íìom the Green Climate Fund (GCF) through the World Bank (WB) for the Vietnam Scaling Up Energy Eíílciency Project (VSUEE Project). The project will provide TA to support the implementation of VNEEP’s targets and the Paris Agreement on climate change mitigation measures in the industrial and energy sector.

In addition, capacity building activities will address the knowledge, institutional, and capacity-building needs of the relevant stakeholders in the management and development of a national mechanism and policies on EE. Those efforts will be accompanied by the establishment of a risk-sharing facility, backed by a GCF Guarantee instrument, which aims to address current regulatory barriers to access commercial capital, mobilize local bank financing, and encourage stakeholders such as industrial enterprises and commercial banks to implement projects and develop an EE investment market. The project consists of two components: (i) GCF Risk Sharing Facility; (ii) Technical Assistance.