Tuesday, March 2 2021


Fund for environmental protection does yeoman service

Update: June, 07/2019 - 08:57
A wastewater treatment plant at the Nhơn Trạch Industrial Zone No.1 in the southern province of Đồng Nai, which was funded by a soft loan from the Việt Nam Environment Protection Fund. — Photo courtesy of VEPF

HCM CITY — The Việt Nam Environment Protection Fund (VEPF) said it has provided soft loans of more than VNĐ2.5 trillion (US$107.5 million) for 294 projects in 54 provinces and cities.

Of them, 144 were in the north, 82 in the south and 68 in the central and Tây Nguyên (Central Highlands) regions.

The fund, managed by the Ministry of Natural Resources and Environment (MoNRE), offered loans for projects related to wastewater treatment, treating household solid waste and hazardous waste and renewable energy.

Speaking at a conference that opened in HCM City yesterday, Deputy Minister of Natural Resources and Environment and chairman of VEPF, Võ Tuấn Nhân, said: “The fund’s financial activities have contributed to achieving the country’s sustainable development goals, socio-economic development and environmental protection.”

He called on individuals and enterprises to continue contributing ideas to help the fund perform better.

According to Dương Thị Phương Anh, deputy director of VEPF, the fund's main activities include offering long-term loans on easy terms for buying machinery and equipment for high-tech applications for environmental protection, clean development mechanism projects and subsidising post-investment interest rates.

Since 2004 it had sponsored 183 projects in 32 provinces and cities totally worth more than VNĐ91 billion ($3.9 million).

It also provided VNĐ3 billion ($129,060) for activities to respond to climate change and VNĐ224 billion ($10.5 million) in subsidies for wind power.

It subsidises post-investment interest rate by 2.4 per cent a year.

It provides a grant of 10 per cent of the cost of machinery and equipment required for environmental protection.

Individuals and organisations involved in environmental protection projects can borrow up to 80 per cent of total investment capital needed for their projects from the fund at interest rates of between 2.6 3.6 per cent per year, with 10-year repayment term.

In 2019-21 the fund will give priority to building technical infrastructure for environmental protection at industrial zones and clusters and trade villages, hazardous waste treatment, bio-fuel production, and renewable energy.

It expects annual credit growth of 20 per cent.

Around 400 officials from ministries and other agencies and 200 business executives attended the conference.

The two-day event discussed policies and regulations to support individuals and businesses seeking to access preferential financial resources for environmental protection projects.

It also created a forum for introducing technologies and solutions to deal with pollution, and for sharing experiences in environmental protection. — VNS

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