TOKYO, 13th January, 2023 (WAM) -- Government-backed financial institutions from Japan, the US, and Australia have pledged to support Vietnam's efforts to cut carbon emissions, according to the chairman of the Japan Bank for International Cooperation (JBIC).

Vietnam News Agency (VNA) quoted JBIC Chairman Tadashi Maeda as saying that the plan at an Indo-Pacific business forum in Tokyo on 12th January.

JBIC, together with the US International Development Finance Corporation, and Export Finance Australia, will launch a new framework for support.

In consultation with the Vietnamese Government, they will help the Southeast Asian nation switch to thermal plants fuelled by liquefied natural gas and expand the use of renewable energy.

They also aim to create business opportunities by introducing technologies for decarbonisation.