The Joint Stock Commercial Bank for Investment and Development of Vietnam is implementing preferential credit programs and packages in renewable energy

According to commercial banks, the Joint Stock Commercial Bank for Investment and Development of Vietnam - Thai Nguyen and South Thai Nguyen branches; the Military Commercial Joint Stock Bank - Thai Nguyen Branch; and the Vietnam Bank for Agriculture and Rural Development - Thai Nguyen Branch are implementing preferential credit programs and packages in renewable energy. Lending rates currently range from about 7.5% to 11% per year. Loan limits, terms, conditions and specific interest rates are applied according to each bank’s policies from time to time.

The Vietnam Bank for Agriculture and Rural Development - Thai Nguyen Branch offers a credit package with lending rates of approximately 7.5% to 11% per year

Notably, the Environmental Protection, Forest Protection and Natural Disaster Prevention and Control Fund under the Department of Agriculture and Environment offers preferential loans for rooftop-solar and energy-storage projects. Loans may cover up to 70% of a project’s total investment, at a current interest rate of 2% per year. The maximum loan term is five years, with a grace period of up to 12 months. Loan security may take the form of bank guarantees, mortgages over land-use rights or assets attached to land, or government bonds.

The Thai Nguyen Provincial Development Investment Fund also provides preferential loans to enterprises and economic organizations investing in rooftop solar and energy-storage systems. The maximum loan amount is currently VND 70 billion per project or customer, with a maximum term of 15 years. The current interest rate is 5.4% per year.

The loan packages are intended to facilitate organizations and individuals seeking to invest in rooftop solar power. (Photo: Rooftop solar power system at the Viet Thai Garment Branch of TNG Investment and Trading Joint Stock Company)

Enterprises, organizations, individuals and households seeking to invest in rooftop-solar and energy-storage systems may contact commercial banks, the Environmental Protection, Forest Protection and Natural Disaster Prevention and Control Fund, or the Provincial Development Investment Fund directly for advice on eligibility, dossiers, procedures, loan amounts, interest rates, terms and security requirements, and then select a funding source suited to their needs and financial capacity.