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New UserJapan, S. Korea run with Vietnam coal plant despite climate vows
31 Dec 2020
Japan and South Korea are pushing ahead with a controversial coal plant in Vietnam and will provide $1.8 billion in loans for the project, despite having announced ambitious pledges to become carbon-neutral on their home turf.
The state-aligned Japan Bank for International Cooperation (JBIC) said it will lend around $636 million to the Vung Ang 2 project in central Vietnam, which has come under international criticism and even divided opinion within Japan's government.
Private financial institutions and the Export-Import Bank of Korea will also provide loans, with the total amounting to $1.77 billion, JBIC said on Tuesday.
Source : https://energy.economictimes.indiatimes.com/news