The Vietnam Prime Minister Nguyen Tan Dung has approved a $205 million project on February 6, 2009 to develop renewable energy and upgrade networks supplying power to remote areas around the country. The project is being funded by the Asian Development Bank. As per the energy sector, Viet Nam is to develop renewable energies from solar, wind, geothermal and, especially, hydropower sources.
Currently, Vietnam has nine river systems.
But the country has failed to make full use of this potential, largely due to the relatively high costs and technology issues.
Totally Vietnam has 500 small hydropower stations with a combined output of 135 megawatt.
Dung has also approved a loan agreement on February 6, 2008 for the Partnership for the poor in agro-forestry development in northern Bac Kan Province project funded by the International Fund for Agriculture Development.
The Minister of Finance will sign the agreement soon.
Earlier, Dung ratified the $600,000 Increasing social auditing capacity of the socio-economic development plan 2006-10 project sponsored by the United Nations Children’s Fund.