On April the 5th, 2016, the Prime Minister issued Decision No. 563/QD-TTg to approve the list of projects on"Energy Efficiency for Vietnam Industry" (World Bank loanedProject).
The overall objective of the projects aims to improve the economical and efficient use of energy in the industry, to contribute to achieving the national targets for energy savings and to reduce greenhouse emissions.
The specific objectives of the project comprise: saving about 1.86 million tons of oil equivalent (TOE) annually and reduction of greenhouse (CO2) emission each year by 9.67 million tons.
Major outputs of the projects:
-About 50 industrial enterprises are identified as directbenefiaciaries of the project;
-60 sub-projects on energy saving and energy efficiency are to be implemented.
-A database of national energy efficiency is built up for the industry;
-A Complete Circular on energy efficiency served as a legal foundation for the industry.
The project implementation period; from 2016 to 2020
The total capital of the project: VND 314 million, of which:
- Loan from WB: US$ 201.7 million;
- Counterpart Contribution: VND 112.3 million.
The Ministry of Industry and Trade, Ministry of Finance, the State Bank of Vietnam are relevant authorities which have the responsibility to ensure the effectiveness of the project and accountability to report to the Prime Minister on conditionality, the lending rate of the project before negotiating the loan agreement to ensure loan repayment, non-subsidy in ODA.
This decision takes effect from the date of signing.