US promotes clean energy investments in Vietnam

US promotes clean energy investments in Vietnam.

USAID Mission Director for Vietnam Aler Grubbs and SC Deputy General Director Nguyen Thuy Hanh signed the MOU, establishing a five-year partnership to advance the country toward its goal of net-zero emissions by 2050.

“Through this new MOU, USAID will collaborate with Standard Chartered Bank in Vietnam to facilitate financing for the private sector to develop Vietnam’s advanced clean energy. This partnership is a model to expand collaboration with financial institutions and help accelerate progress toward the country’s goal of net-zero emissions by 2050,” said USAID in Vietnam Mission Director Grubbs.

“Our MOU with USAID is part of our commitment to support our clients and help them access sustainable financing and achieve net-zero goals. We will continue to work closely with our clients and our partners to provide access to finance where it matters most and to contribute to the sustainable development of Vietnam,” said Nguyen Thuy Hanh, Deputy General Director, Head of Corporate and Investment Banking, Standard Chartered Bank Vietnam.

Under this MOU, USAID will collaborate with SC to mobilize private sector investment in advanced energy systems such as rooftop solar, modernize utilities, and advance power trading. USAID support includes training, capacity development, transactional support and matchmaking activities./.