Attending the working session, on the side of the Project Lender, there were representatives of the following organizations: French Development Agency (AFD) in Vietnam; Japan International Cooperation Agency (JICA); European Investment Bank (EIB); German Development Bank (KfW); Delegation of the European Union (EU); Secretariat of the EVN - Team Europe Energy Transition Project (ETEF).

Overview of meeting

On EVN's side, Vice President Pham Hong Phuong attended and chaired the meeting. Also attending were representatives from EVN's professional departments and the Power Project Management Board No. 3, the unit directly responsible for managing the Project.

At the working session, the two sides discussed several important issues related to updates on the overall project progress, including construction progress; bidding progress - particularly the 10 packages financed by loan capital; the expected schedule for disbursement and site clearance compensation; and other related matters. The parties also shared the common tasks and respective responsibilities of each party regarding procurement and bidding, environmental and social aspects, Technical Cooperation Support (PoE and SSC), coordination and information-sharing mechanisms between the parties, as well as communication activities for the Project.

The meeting clarified the remaining issues and key priorities for the Lender to complete the appraisal work, thereby facilitating the formulation of necessary recommendations in accordance with Vietnamese law, national standards, and the international standards applied by EVN. This is an important foundation for the two sides to propose solutions to meet the relevant documents and conditions, towards negotiating and signing the Credit Agreement for loans with AFD, Proparco (a financial institution under AFD) and CDP (a non-profit organization on global environmental impact), at the same time for EIB, KfW and JICA to complete the documents to submit to the Credit Committee for official approval of providing loans for the Project.

Concluding the meeting, EVN Vice President Pham Hong Phuong suggested the delegation of Lender to continue working with local authorities in the Bac Ai pumped-storage hydropower plant construction area, especially the authorities of the relevant communes, to consult and reach consensus on the proposals in all 10 reports related to site clearance, resettlement, livelihood support for people and issues related to ethnic minorities, serving the approval of lending policies of banks under the Lender.

EVN Vice President Pham Hong Phuong (center) speaking

To expedite the completion of these reports, EVN’s leadership expects the parties to develop specific plans for each item within their respective areas, in order to avoid overlap and resource waste, thereby ensuring a comprehensive overview of all issues while clearly defining the responsibilities of the relevant parties.

EVN Vice President Pham Hong Phuong also emphasized that the Bac Ai Pumped Storage Hydropower Plant is a major project with a large construction volume, a long construction schedule, and multiple sponsors from various countries. Therefore, EVN consistently strives to implement the most optimal management arrangements to meet the Lender’s requirements. EVN will continue to upgrade and streamline the organizational structure directly responsible for managing and operating the Project to ensure compliance is enforced.

Previously, from September 22 to 24, the Lender’s delegation conducted a working program with relevant units and local authorities in Khanh Hoa Province, and inspected the construction site of the Bac Ai Pumped Storage Hydropower Plant Project.

Translator: Hải Yến