VinFast gains ADB funding for e-buses & charging in Vietnam

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In Vietnam, the Asian Development Bank (ADB) has awarded a $135 million climate financing package to the electric vehicle maker VinFast, to manufacture Vietnam’s first, fully electric public transport bus fleet and an electric vehicle charging network across Vietnam.

The aim of the ADB funding is to achieve net-zero greenhouse gas emissions and to expand high-tech manufacturing industries in the South East Asian country. The $135 million of funding is comprised of tenor financing, loans, and concessional financing.

For ADB, the project’s risks are partially offset with concessional financing through its managed trust funds. These are comprised of loans from the Australian Climate Finance Partnership funded by the Australian Government (ACFP), the Clean Technology Fund (CTF) and a grant from the Climate Innovation and Development Fund, which itself is funded by Goldman Sachs and Bloomberg Philanthropies. The ADB also mobilised parallel loans from Export Finance Australia, the Finnish Fund for Industrial Cooperation, and the Oesterreichische Entwicklungsbank AG.

VinFast gains ADB funding for e-buses & charging in Vietnam - electrive.com

In Vietnam, the Asian Development Bank (ADB) has awarded a $135 million climate financing package to the electric vehicle maker VinFast, to manufacture Vietnam's first, fully electric public transport bus fleet and an electric vehicle charging network across Vietnam. The aim of the ADB funding is

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