U.S., Standard Chartered promote clean energy investments in Viet Nam
VGP - A Memorandum of Understanding (MoU) was inked between the U.S. Agency for International Development (USAID) and Standard Chartered Bank, with a strong commitment to green financing and promoting the deployment of advanced clean energy in Viet Nam.
The signing ceremony of the Memorandum of Understanding
USAID Mission Director for Viet Nam Aler Grubbs and Standard Chartered Deputy General Director Nguyen Thuy Hanh signed the MoU on April 16, establishing a five-year partnership to advance the country's goal of net-zero emissions by 2050.
Speaking at the ceremony, Grubbs said, through this new MoU, USAID will collaborate with Standard Chartered Bank in Viet Nam to facilitate financing for the private sector to develop Viet Nam's advanced clean energy.
This partnership is a model to expand collaboration with financial institutions and help accelerate the country's goal of net-zero emissions by 2050, she added.
"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 to where it matters most and to contribute to the sustainable development of Viet Nam," shared Nguyen Thuy Hanh.
Under this MoU, USAID will collaborate with Standard Chartered 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./.
