German bank funds rural power project in VN
Tens of thousands of rural residents in four provinces of Vietnam will get better access to electricity supply via a newly-launched project funded by a German bank.
The project, which was kicked off on December 12 in the central province of Nghe An, covers the upgrading and building of new power grids in Nghe An and three northern provinces of Bac Giang, Vinh Phuc and Phu Tho.
It has a total investment of over VND1.94 trillion (about $92 million), of which almost VND1.5 trillion is sourced by a loan from the German Resconstruction Credit Institute (Kreditanstalt fur Wiederaufbau, KFW).
Being implemented by the Northern Power Company under the State-owned Electricity of Vietnam, the project is scheduled to be completed by the end of next year.-
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