VILAF proudly served as the Vietnamese legal counsel to JBIC in a US$150 million credit facility provided to VPBank. This financing, intended to be granted by JBIC along with other potential financial institutions, is aimed at supporting renewable energy projects and electricity transmission systems in Vietnam, contributing to the country’s national goal of achieving net-zero emissions by 2050.

This facility is a part of the Asia Zero Emissions Community (AZEC) initiative, spearheaded by the Japanese government to promote carbon neutrality and economic growth tailored to the specific needs of each nation. It also aligns with the Just Energy Transition Partnership (JETP), a cooperative framework established in 2022 by Vietnam, Japan, the United States, and other partners to drive sustainable energy transitions.

In line with both Vietnam’s and Japan’s shared goals to accelerate the development of smart energy systems, renewable energy integration, and the modernization of the country’s electricity grid, this facility will serve as a crucial source of financing to increase VPBank’s funding for credit extension and be ultimately granted by VPBank to finance enterprises and projects involved in grid development, renewable energy businesses, and initiatives that positively impact environmental protection across Vietnam. For the purpose of this facility, VPBank has submitted a proposal to participate in the competitive bidding process to finance three electricity transmission projects in Dong Nai and Binh Duong provinces.

VILAF’s role in this significant transaction is a testament to our dedication and expertise in delivering top-tier legal services in complex cross-border financing, further solidifying our standing as a leading legal advisor in Vietnam’s energy sector, especially in renewable energy.

The VILAF team advising JBIC in this transaction includes Banking Partner Trung Vu, and Associates Ha Anh Vu and Lan Phuong Nguyen.