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German loans for electricity sector

Released at: 17:49, 03/12/2014

German loans for electricity sector

Visit by German State Secretary focuses on training, energy, and environment projects.

by Do Huong

Germany’s Ministry of Economic Cooperation and Development has granted preferential loans worth 200 million euros for Vietnam to modernize network transmission and electricity distribution in small and medium-sized cities around the country.

The loans were announced during a visit by the State Secretary of Germany’s Federal Ministry for Economic Cooperation and Development, Dr. Friedrich Kitschelt, to Vietnam from November 28 to December 3, which will focus on projects in German-Vietnam development cooperation in training, energy and the environment. “Efficient energy use is a focus area in Vietnam’s green growth strategy,” said Secretary Kitschelt. “We believe that innovated networks technology will reduce energy consumption and reduce CO2 emissions during transmission, while ensuring the supply of electricity at low cost. Germany has therefore contributed significantly to providing supplies as well as regional economic development and environmental protection.”

He witnessed the signing of a loan agreement worth 100 million euros for the improvement of the city grid with the Ministry of Finance. Secretary Kitschelt and the Minister of Planning and Investment and the Deputy Minister of Finance also participated in high-level talks regarding policies to promote the private economy as well as the framework conditions for economic development in Vietnam in the future, in accordance with the National Strategy for Green Growth. He also visited a German-Vietnam vocational training project and expressed his appreciation of the close cooperation between vocational training centers and Bosch from Germany: “During training, participants from companies and young students will accumulate experience and best practice,” he said. “Not only students but also the companies who invested in the training process will benefit from this experience because after graduation the students can start work,” he said. During the talks, Secretary Kitschelt proposed the Vietnamese Government create the conditions necessary for enterprises in Vietnam to also apply the training model.

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