At the meeting, Mr. Stoelinga had introduced ING’s strategy to expend its activitiesin Vietnam in general and its will to enhance cooperation with VDB especially for renewable energy projects such as wind, solar, water and geothermal energy in Vietnam. According to him, ING has experience in renewable energy financing especially in Southeast Asia countries such as Sarulla geothermal power Project in Indonesia with total investment of $17.1 billion by Sarulla Operations Limited; Green Power for the Philippine by the Energy Development Corporation (EDC), with a total investment of $ 450 million,
ING Bank has opened its representative office the first time in Vietnam from 1995.The second time is in 2012. Recently, ING has been proactive in financing project in Vietnam such as the Mong Duong power project 2 for a total funding for the project is about $ 1.5 billion..
On behalf of VDB, Mr. Pham Quang Tung shared that VDB was a policy bank of Vietnam government in charge of financing key development projects in Vietnam. He presented VDB’s performance and development strategy in the near future on renewable energy projects, environmental protection. Assigned by the government, VDB is the leading bank in Vietnam in financing renewable energy projects. This is the main funding provider for big scale hydropower plant constructions namely Lai Chau, Son la hydropowers. It has contributed to develop wind power plants as Bac Lieu Wind Power project and VDB is considering financing new form of clean energy development such as solar energy.
VDB’s Chairman welcomed the cooperation offer from ING and promised to do his best implement the proposal from this Deuchts Bank./.