Japan Bank for International Cooperation (JBIC), a government-affiliated financial institution, is working with financial institutions in the United States and Australia to launch a decarbonization project in Vietnam, where high economic growth continues, in an effort to support decarbonization efforts in Asian countries. It was decided to provide financial support to
This was announced by Masafumi Maeda, chairman of the Japan Bank for International Cooperation, at a business forum on the Indo-Pacific held in Tokyo on the 12th.
In providing support, we will establish a new framework in collaboration with government-affiliated financial institutions such as the International Development Finance Corporation of the United States and the Export Finance Corporation of Australia.
Vietnam, which continues to enjoy high economic growth, has set a goal of reducing greenhouse gas emissions to net zero by 2050. To achieve this goal, it is necessary to reduce the use of coal, which is used in thermal power generation, while maintaining economic growth. The issue is how to reduce it.
For this reason, institutions participating in the framework, such as the Japan Bank for International Cooperation, have a policy of supporting decarbonization efforts while consulting with the Vietnamese government.
Specifically, we will provide financial support such as
financing
and investment for the transition to thermal power plants that use LNG (liquefied natural gas) and the expansion of the introduction of renewable energy.
We will also introduce it, and we
would like to support Vietnam and create new business opportunities.