Australia Supports Vietnam’s Green Recovery
(VBSP News) The COVID-19 Green Economic Recovery Package also includes A$4 million through Australia’s Mekong Australia Partnership to support low emissions and sustainable rice in the Mekong Delta region, also known as Vietnam’s Rice Bowl.
From left: The Australian Ambassador to Vietnam Ms Robyn Mudie, Ms Lê Cassandra from Orlar Vietnam, Mr Phạm Đức Thọ Director of E-Green, the Vietnam Foreign Minister Mr Bui Thanh Son, the Australian Foreign Minister Marise Payne, Ms Trần Lan Phương Deputy Director-General of VBSP and Ms Từ Thu Hiền from Cricket One
The Australian Government will provide A$6.5 millionCOVID-19 for a Green Economic Recovery Package for Vietnam. Announced during the official visit to Vietnam of Australia’s Foreign Minister, Marise Payne, the package includes A$2.5 million for four business partnerships that will leverage a further A$9.2 million in private sector investment.
These four unique partnerships, established under Australia’s successful Business Partnerships Platform, will support Vietnam’s green economic recovery through commercial initiatives in the energy and climate sectors.
The COVID-19 Green Economic Recovery Package also includes A$4 million through Australia’s Mekong Australia Partnership to support low emissions and sustainable rice in the Mekong Delta region, also known as Vietnam’s Rice Bowl.
At COP26 in Glasgow last week,Vietnam’s Prime Minister Pham Minh Chinh and Australia’s Prime Minister Scott Morrison released a joint statement on practical climate action, in alignment with both countries’ new commitments to move to net zero emissions by 2050. Australia also announced it would further increase its climate financing commitment over the next five years to A$2 billion, including for Vietnam.
Australia’s new Green Economic Recovery Package complements these commitments, supporting Vietnam to tackle the challenges of climate change and energy transition, while creating tangible economic benefits and supporting business growth.
The four Business Partnerships Platform partnerships being awarded today, include:
- “Dual use of solar energy for agriculture and aquaculture in Vietnam” – a partnership between DFAT, Climate Sense, the Asia Foundation, Vietnam Bank for Social Policies (VBSP), GreenID and VũPhong – represented by Ms Trần Lan Phương, Deputy Director General of VBSP. This partnership will scale up investment in dual use agri-photovoltaic systems in the Mekong Delta.
- “Bioenergy on commercial farms in Vietnam” – a partnership between DFAT, SNV, E-Green, Nexus for Development and HD Bank – represented by Mr Phạm Đức Thọ, Director of E-Green. This partnership will scale up sustainable electricity generation at large and medium-sized livestock farms using state-of-the-art equipment.
- “Advanced vertical farming for climate, lives and landscapes in Vietnam” – a partnership between DFAT, Orlar, Raise Partners and SNV – represented by Ms Lê Cassandra from OrlarVietnam. This partnership will deploy innovative vertical farming technology to increase sustainable food production in the Mekong Delta.
- “Sustainable cricket farming in Vietnam” – a partnership between DFAT, Cricket One, and Entomo Ventures – represented by Ms Từ Thu Hiền from Cricket One. This partnership is scaling up a cricket farming venture for a sustainable alternative food source.
- Households in disadvantaged areas can borrow up to VND 100 million for business and production.
- VBSP's Trade Union worked with the Korean Finance Union delegation
- Promotion of digital financial services to enable financial inclusion for the disadvantaged population in Vietnam
- Nearly 485,000 households provided with social policy bank loans in Q1
- Newsletter Vol 4.2023
- VBSP SmartBanking launched for the poor and low-income
- The exposure visit of the Nepal delegation of ASDP in Vietnam
- Improve policy credit quality through the model of Savings and Credit groups
- Provide inclusive financial schemes for the poor and disadvantaged groups
- Contribution to the implementation of the National Target Program on new rural construction and sustainable poverty reduction in the 2021-2025 period
- Nearly 10,000 workers in Hanoi get loans from VBSP to restore production
- VBSP is awarded the medal "Business Partnerships Platform" from the Australian Government
- VBSP General Director Duong Quyet Thang met the Embassy of the Lao PDR
- Effectiveness of policy credit in Chi Dao commune
- VBSP branch of Da Nang City participates in donating motorbikes to people returning home
- Policy credit helps people surmount pandemic challenges
- Training course “Green finance for renewable energy development in Viet Nam”
- Prime Minister appoints VBSP staff
- Newsletter Vol 10.2021
- Solutions on VBSP’s social and environmental risk management
- Policy Bank of Lao PDR visited Vietnam Bank for Social Policies
- VBSP works with Nepal's Ministry of Agriculture and Livestock Development
- Policy credit provides fulcrum to elevate ambitions
- VBSP DIGITAL TRANSFORMATION
- Policy credit supporting ex-prisoners in their new lives
- Policy credit contributes to enhancing social wellbeing
- VBSP Board of Directors held the regular meeting of quarter II, 2023
- VBSP Lang Son lending helping hand to people in need
- Credit access the key to reducing poverty
- VBSP works with organizations from Bangladesh
LENDING INTEREST RATE
DEPOSIT INTEREST RATE