He told the Vietnam News Agency (VNA) that this project is special because it uses the non–sovereign loan with a five-year grace period and the duration of reimbursement is 15 years. Conan expressed his hope for a long-term partnership with the EVN, in line with the group’s transformation and energy transition. Since 2000, the EVN and the AFD have maintained cooperation through sovereign and non-sovereign loans for electricity projects.
The AFD has paid due attention to enhancing cooperation with the Vietnamese Government in policy dialogues regarding climate change and clean energy to help Vietnam shift towards green, low carbon growth, and respond to climate change. The agency has so far committed some 350 million EUR worth of non-sovereign loans to the EVN.
Since 2017, AFD loans have played a part in the Vietnamese group’s investment, meeting requirements for electricity supply in socio-economic development. The AFD has led the way in providing direct loans for the EVN’s power projects without the government guarantee.