A credit fund worth EUR100 million has been provided by the European Investment Bank (EIB) to Vietnam to help relieve negative impacts of climatic changes.

The credit includes several long-term loans of low interests that will be earmarked for renewable energy and energy-economising projects.

The Ministry of Finance will receive the assistance and then loan them to 4 State Commercial Banks. The 4 banks will be responsible for examining and financing appropriate projects.

The 4 banks are the Vietnam Development Bank, the Vietnam Agriculture and Rural Development Bank, the Vietnam Investment and Development Bank and the Vietnam Commerce and Industry Bank.

Source: DDDN

Translated by Thu Nguyen