The World Bank technical mission was led by Ms. Claudia Suarez, Director of the Energy Sector for Southeast Asia and the Pacific, together with Ms. Zayra Romo, Energy Sector Leader in Vietnam and REACH Project Manager, and WB specialists in energy, procurement, financial management, environmental and social safeguards, and project management.
The REACH project consists of one main component: the 500 kV Krong Buk – Tay Ninh 1 Transmission Line, passing through five provinces: Dak Lak, Dak Nong, Binh Phuoc, Binh Duong, and Tay Ninh.
The total estimated investment is approximately VND 14,000 billion, of which 70% will be financed by foreign loans (including EUR 290 million from the World Bank’s IBRD and USD 20.7 million in concessional funding from the Canada Fund). The remaining 30% (VND 4,218 billion) will be EVNNPT’s counterpart capital.
The loan agreement is expected to be signed in Q1 2027, with project implementation planned for the period 2027–2031.
EVNNPT leaders and the World Bank technical mission listen to a project progress presentation.
The objectives of the World Bank mission were to agree on the project preparation roadmap, assess EVNNPT’s readiness in terms of technical preparation, financial management, procurement planning, and environmental and social safeguards, review current findings, and identify next steps to accelerate project preparation. Special focus was placed on the approval of the Investment Policy Decision and the Procurement Plan, which are prerequisites for loan negotiations.
During the mission, World Bank experts worked closely with EVNNPT’s specialized departments and the Southern Power Projects Management Board (SPMB)—the unit assigned to implement the project—to review key preparation milestones, define responsibilities, and strengthen coordination mechanisms to ensure timely completion of critical project documents.
Working session between EVNNPT and the World Bank technical mission.
At the wrap-up meeting chaired by Mr. Nguyen Ngoc Tan, Deputy General Director of EVNNPT, representatives from EVNNPT’s departments of Finance and Accounting, Investment and Construction, Planning, Procurement Management, the EVNNPT Office, and SPMB discussed and agreed on the project timeline.
Mr. Nguyen Ngoc Tan noted that in September 2025, EVNNPT submitted an official request to the People’s Committee of Lam Dong Province for approval of the project’s investment policy. Provincial authorities are currently coordinating with other related localities to review the project, while other project preparation documents are being developed in parallel.
The two sides agreed on the following target schedule:
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Investment Policy approval: by late January 2026
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Environmental Impact Assessment (EIA) approval: by April 2026
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Feasibility Study approval: by May 2026
Mr. Tan emphasized that the REACH project is a large-scale investment spanning five provinces with a significant capital requirement, making preparation work complex. Nevertheless, EVNNPT is making every effort to complete preparatory tasks and coordinate closely with relevant stakeholders to ensure the project progresses as planned and moves toward loan negotiations by June 2026, in line with the agreement with the World Bank. He expressed sincere appreciation to the World Bank leadership and experts for their continued support and cooperation.
EVNNPT working session with the World Bank technical mission.
Speaking at the meeting, Ms. Claudia Suarez highlighted the importance of close coordination between the World Bank and EVNNPT to ensure timely project approval, thereby laying a solid foundation for early implementation and long-term cooperation.
Ms. Zayra Romo, REACH Project Manager, added that following the working sessions, the World Bank mission would conduct a field visit to review environmental and social issues, aiming to finalize remaining aspects of the EIA for approval on schedule. She reaffirmed the World Bank’s commitment to working closely with EVNNPT during this critical preparation phase.