Vietnam's Secretariat for the implemention of the Political Declaration on establishing the Just Energy Transition Partnership (JETP) recently held a meeting with the International Partners Group (IPG), the Glasgow Financial Alliance for Net Zero (GFANZ), and UNDP – the agency supporting the JETP Secretariat.
The meeting aimed to update on the status of JETP cooperation over the past period, project future cooperation activities in line with the JETP Declaration, effectively contribute to ensuring national energy security, reducing greenhouse gas emissions, and promote support from IPG, GFANZ, and other international partners.
The meeting updated information from all parties on JETP implementation since the July 2025 meeting, with a total of 45 project proposals submitted by ministries, sectors, and localities.
After review, IPG, GFANZ, and the Ministry of Industry and Trade agreed on 37 projects suitable for JETP, bringing the total number of identified JETP-eligible projects to 44, requiring a total mobilized capital of over $10 billion.
Among the seven projects already identified in the Resource Mobilization Plan for JETP (RMP), three projects have successfully secured funding. Specifically, these include a $78 million loan for the project to strengthen the power transmission grid in the former province of Binh Duong (now Ho Chi Minh City); a $93 million loan for the Tri An Hydropower Plant expansion project in southern Dong Nai province; and a $557 million loan for the Bac Ai Pumped-Storage Hydropower Plant project (in the former province of Ninh Thuan, now Khanh Hoa province, in central Vietnam).
In August 2025, IPG submitted 23 project proposals for consideration to be included in the JETP project portfolio. These projects are currently being reviewed by ministries and sectors for feedback. Preliminary findings indicate that among these 23 projects, there are 17 technical assistance projects and 6 investment projects with a total capital of over $420 million from 6 international partners.
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