Japan keen to fund US$1.8 bln coal-fired plant in Vietnam

VOV.VN - Investors from Japan have pledged to provide approximately US$1.8 billion in capital to finance a coal-fired thermal power plant in Vung Ang of Ha Tinh province, according to business publication Bloomberg on Dec. 30.

The piece outlines how the Japan Bank for International Cooperation will provide a sum of US$636 million for the Vung Ang II thermal power plant, equivalent to 30% of the total investment needed for the project.

Other lenders to the site will include three of Japan's leading banks, along with the Export-Import Bank of Korea, and the trading house Mitsubishi Corporation.

This comes after approximately 5% of Official Development Assistance (ODA) loans provided by the Japanese Government in 2018 were spent on investing in coal fired power projects, mainly in Vietnam and Bangladesh.

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