Feb 27, 2020 / 16:26

Vietnam needs US$111 billion investment in SDGs by 2030: StanChart

The Hanoitimes - While Vietnam is making good progress in the implementation of SDGs, significant investments are needed.

Vietnam requires an estimated US$111.1 billion investment in Sustainable Development Goals (SDGs) by 2030, in which the private sector can contribute US$45.8 billion, according to Standard Chartered Opportunity2030 Report.

 Illustrative photo

While Vietnam is making good progress in the implementation of SDGs, significant investments are needed, especially in SDG 6: Clean Water and Sanitation and SDG 9: Industry, Innovation and Infrastructure, said Nirukt Sapru, CEO Vietnam and ASEAN & South Asia Cluster Markets, Standard Chartered Bank.

“Leveraging on our global capabilities and local insights, we will continue to act as a catalyst for the acceleration of SDGs in the country through the provision of meaningful sustainable finance,” Sapru noted.

Standard Chartered on February 26 announced business targets for supporting its clients as they transition to a low- carbon economy. By the end of 2024, the bank commits to provide US$75 billion towards SDG project financing, including US$40 billion for infrastructure that promotes sustainable development, and US$35 billion for renewables and clean tech projects.