$15.5 bln Just Energy Transition Partnership picks 8 projects in Vietnam, not yet disburse
The Just Energy Transition Partnership (JETP), which was launched in December 2022 to mobilize $15.5 billion to finance Vietnam’s green transition, selected eight projects in the country in 2024.
However, the implementation is facing challenges, Ramla Khalidi, resident representative of the United Nations Development Program (UNDP), said at a Thursday meeting with the Ministry of Industry and Trade.
The event also featured representatives from the banking sectors, such as Standard Chartered, Mizuho, HSBC, MUFG, and Citi.
In 2025, the JETP will continue monitoring projects for collaboration with the partnership, she added.
Ramla Khalidi, resident representative of the United Nations Development Program (UNDP), speaks at a meeting with the Ministry of Industry and Trade in Hanoi on February 20, 2025. Photo courtesy of the ministry.
In reply, Nguyen Thi Lam Giang, head of the Energy Efficiency and Sustainable Development Department, under the Ministry of Industry and Trade, said the Vietnamese side would continue processing the task after the government streamlining is completed.
Key tasks are completing the governing body, assessing mobilization plans for the Prime Minister’s approval, dissemination of JETP program, and technical discussions with renewable energy groups.
Vietnam announced its JETP implementation plan at COP28 in 2023 with 273 electricity projects for the business sector.
In October 2024, Deputy Minister of Finance Vo Thanh Hung said Vietnam is yet to receive any loan from the JETP. Vietnam also needs support related to technology transfer, human resources training, and technical assistance, he added.
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