The Global Green Growth Institute (GGGI) in Laos (the project implementing unit) requested Vietnam Development Bank (VDB) to host and collaborate with a delegation in early December 2024. The delegation included representatives from the Ministry of Natural Resources and Environment (MONRE) as the National Designated Authority (NDA) of the GCF, the Bank of the Lao PDR (BOL), the Banque Pour Le Commerce Extérieur Lao Public (BCEL), and GGGI.
With the approval of the VDB’s leadership, on December 25, 2024, the Foreign Capital Department, represented by Mr. Nguyen Hoang Trung - Head of the Department, hosted a 13-member Lao delegation led by Ms. Bounphama Phithisane, Deputy General Director of the Environmental Protection Fund - MONRE.
The purpose of the working visit was to exchange knowledge and experience with VDB in the process of successfully registering and being recognized by the GCF as a National Implementing Entity (NIE), as well as in building and mobilizing investment capital for climate change mitigation and adaptation projects.
At the meeting, the Lao representative presented the progress of the project, stating that BCEL had been selected as a Lao NIE candidate with the GCF's investment capital at a micro scale (a maximum of 10 million USD per project). Currently, the organization is being supported in preparing the registration dossier to submit to the GCF. At the same time, the Lao side highlighted the difficulties encountered in building green financial policies, classifying green projects, and addressing institutional issues, noting that BCEL's policies have not yet met the GCF's requirements for recognition as an NIE.
In addition to discussing the process of NIE recognition, members of the Lao delegation also raised several questions about project development to attract investment capital from the GCF. These questions were answered thoroughly by the Foreign Loan Department, providing valuable information for the Lao delegation to refer to.
The meeting took place in an open and collaborative atmosphere. The members of the Lao delegation were very grateful and appreciative of VDB's warm and sincere welcome. At the same time, they expressed their hope to continue receiving support from NHPT experts during the process of submitting the NIE registration application to the GCF. The Foreign Loan Department announced that it is ready to support the Lao side after reporting and receiving approval from the Bank's leaders.
It can be said that the working session with the Lao delegation, though brief, was meaningful: it demonstrated VDB's prestige as the first Vietnamese organization recognized by the GCF as a DAE, established NHPT as a reliable partner willing to share experiences related to GCF activities, and opened up potential for future cooperation with partners to invest in green projects and climate change adaptation and mitigation efforts in the ASEAN region./.