In October 2023, the European Union (EU) released EUR 22 million of budget support to the Government of Viet Nam in the framework of the EU – Viet Nam Sustainable Energy Transition Programme (SETP). This brings the total disbursement by the EU under this programme to EUR 48 million in grant support to the national budget under agreed performance conditions.

Under its Global Gateway Strategy and European Green Deal agenda, the EU is leading global efforts to fight climate change and to achieve net-zero emissions. The EU is committed to support Viet Nam in achieving a just energy transition and fulfilling its national and international climate ambitions through a meaningful implementation of the Just Energy Transition Partnership (JETP). The implementation of Global Gateway in Viet Nam will also focus on the areas of green, circular economy and sustainability, as well as education and skills development.

The EU-funded SETP budget support programme of a total of EUR 142 million in grants contributes to the JETP, aiming to accelerate Viet Nam’s sustainable energy transition process. It affirms the EU’s close cooperation and long-term commitment to contributing to Viet Nam’s clean energy transition, as well as the country’s  overall objective to achieve net zero emissions by  2050.

Read this PR on EU’s website at: https://www.eeas.europa.eu/setp-22-million_en