The signing ceremony was witnessed by Mr. Duong Quang Thanh, Chairman of the Board of Directors of EVN.
Recently, realizing the urgent need of EVN to develop and implement an energy transition roadmap to realize the commitment of the Prime Minister at COP26 on net-zero emissions by 2050, study and formulate innovation projects, train human resources for capacity building in risk management and change management, etc., taking advantage of the decent partnership between EDF and EVN in the past time, demonstrated in 2 Memorandums of Understanding (MOU) signed in 2017 and 2020, AFD has approved a grant worth about EUR 1 million to finance EDF to implement technical cooperation activities with EVN in the captioned areas. The cooperation between EVN and EDF will be implemented in 15 months from the end of 2022.
The meeting took place at AFD headquarters (Paris, France).
AFD is the pioneer and most active donor in providing non-sovereign loans and extending technical cooperation activities, which meet EVN's specific development requirements from time to time. With a healthy financial position, good business performance results, and a credit rating of BB by Fitch Ratings, AFD's non-sovereign loans to EVN are highly competitive compared to commercial loans. Technical cooperation activities supported by AFD are practical and effective, meeting the needs of EVN in capacity building, procedure standardization, etc.
Chairman of the Board of Directors of EVN Duong Quang Thanh (back row, 3rd from the right) witnessed the signing between AFD and EFD
The cooperation with AFD has enabled EVN to diversify and raise financial resources at reasonable prices, meeting the investment needs of EVN, especially in the context that the arrangement of ODA loans remains complicated and time-consuming according to current regulations.
After COP26, with abundant financial resources from the Just Energy Transition Partnership (JETP), AFD expects to mobilize more than EUR 20 million through the EU to support EVN in clean energy projects (with the highest priority given to Bac Ai Pumped Storage Power Plant Project), or via technical cooperation activities that contribute to the energy transition and innovation of EVN, etc., meeting the development requirements of EVN in the new period.