HCMC - The European Union (EU) delegation in Vietnam will provide a grant of 142 million euro to support the country's sustainable energy transition and its goal of achieving net-zero emissions by 2050.

The Ministry of Industry and Trade and the EU Delegation to Vietnam organized a policy dialogue on the Vietnam-EU Sustainable Energy Transition Program on June 30. The event was attended by Giorgio Aliberti, the EU Ambassador to Vietnam. During the dialogue, it was announced that the EU will provide 142 million euro in non-repayable official development assistance (ODA) for the Vietnam-EU Sustainable Energy Transition Program. The EU Delegation to Vietnam highly appreciated Vietnam's energy transition policies, including the Power Development Plan VIII for the 2021-2030 period and the government's commitment to the Just Energy Transition Partnership (JETP) in December 2022. The discussion also focused on the financial mechanism for utilizing the budget and exchanged information about the amendment of the Electricity Law. EU Ambassador Giorgio Aliberti stated that the EU Delegation to Vietnam will propose a disbursement of 22 million euro to the country this year, subject to approval from the European Commission.