Overview of the working session between EVNNPT and World Bank representatives.
The meeting was chaired by Mr. Nguyen Tuan Tung, Chairman of the Board of Members of EVNNPT. Participating from EVNNPT were Mr. Do Duc Hung, Member of the Board of Members; Mr. Nguyen Ngoc Tan, Deputy General Director; and leaders of functional departments within EVNNPT.
On the World Bank side were Ms. Sudeshna Banerjee, Director of the Infrastructure Regional Unit for South East Asia and the Pacific; Ms. Claudia Suarez, Energy Sector Manager; Ms. Zayra Romo, Head of Energy for Vietnam, Laos, and Cambodia and REACH Project Coordinator; along with other REACH project staff.
Mr. Nguyen Tuan Tung, Chairman of EVNNPT, addressing the World Bank delegation.
At the session, Chairman Mr. Nguyen Tuan Tung shared that EVNNPT is responsible for the operation and investment development of the 220 kV to 500 kV power transmission grid nationwide. According to the revised Power Development Plan VIII, investment in grid development from now until 2030 is expected to grow two to three times compared to previous periods.
Some major and complex projects include long-distance 500 kV transmission lines, such as connections between the Laos–Vietnam grid and between the Central and Northern regions. With sharply rising investment needs, EVNNPT highlighted the need to increase equity capital and diversify sources of borrowed capital to fully implement assigned projects.
World Bank representatives listening during the working session - Ms. Claudia Suarez, Energy Sector Manager, speaking on behalf of the World Bank.
To successfully implement these investments, EVNNPT emphasized a strong need for technical assistance and training in new fields and advanced technologies, both to enhance grid capacity and to strengthen the internal capabilities of its staff in project execution. EVNNPT has many urgent projects planned to alleviate congestion in renewable energy capacity and in liquefied natural gas (LNG) capacity, making World Bank cooperation and support highly important.
During the meeting, EVNNPT provided updates on the REACH project’s financing arrangements and expressed hope that the World Bank would soon issue a loan confirmation letter to EVNNPT as requested. To date, EVNNPT has been actively working with local authorities to secure project approvals, which are prerequisites for implementation and for borrowing funds.
Regarding WB financing arrangements, the REACH project will be carried out in accordance with new regulations on management and use of Official Development Assistance (ODA) and concessional foreign loans. Ms. Claudia Suarez, Head of Energy, noted that while the REACH project was developed and discussed years ago and has received significant interest and support from WB leadership, implementation was previously delayed due to policy and mechanism issues related to ODA financing in Vietnam. WB has been working with the Government and relevant ministries to address these obstacles.
With recent updates in project management regulations, WB indicated that this is a suitable time for EVNNPT to accelerate financing arrangements, with the aim of signing the project loan agreement by Q1 2027, before the expiry of Canada’s funding component. WB reaffirmed its commitment to continuous support for EVNNPT, not only for the REACH project but also for future collaborations including technical support and capacity building.
Group photo of EVNNPT and World Bank representatives at the end of the working session.
At the conclusion of the session, EVNNPT’s leadership expressed appreciation for the World Bank’s long-standing support and affirmed their commitment to mobilize resources to expedite REACH project arrangements, aiming for timely agreement signing and effective implementation.