Proparco and Evnfinance will support projects with climate co-benefits in Vietnam

Through a $10 million loan, Proparco aims to help EVN Finance increase its support for renewable energy projects. EVN Finance is a financial non-banking institution specialized in the financing of the Vietnamese energy sector, with a particular focus on the development of renewable energy.

In a context of fast-growing energy needs, Proparco’s $10 million loan aims to help EVNFinance support projects with climate co-benefits: renewable energy projects such as solar rooftops and photovoltaic farms.

This would be the first partnership between Proparco and EVNFinance.

More than 100 SMEs in the energy sector are expected to be financed through this operation. It should prevent the emission of 181,000 tCO2eq over the lifetime of the project while supporting hundreds of jobs in an industry that is essential to sustainable development.

This project will thus contribute to Sustainable Development Goals #7 (Clean Energy), #8 (Decent Work and Economic Growth), and #13 (Climate Action).