Climate Fund Managers (CFM), a climate-centric blended finance investment manager announces a USD 24 million investment in Vietnamese water infrastructure developer and operator CA Water Joint Stock Company (CA Water) via its Climate Investor Two (CI2) fund. The investment will accelerate the supply of clean water in Northern Vietnam with two new water treatment plants and associated distribution networks, improving health and quality of life for thousands while fostering long-term social, environmental and economic development in the region.
CI2 is a blended finance facility focused on water, sanitation and oceans infrastructure in emerging markets, supported by the European Union and the Government of the Netherlands. The investment will support the development, construction and operation of two greenfield water treatment and distribution plants in Northern Vietnam: (1) the Phu Binh water supply plant, with a capacity of 15.000m3/day in Phu Binh District, Thai Nguyen province, and (2) the Quang Thanh water supply plant, with a capacity of 10.000m3/day in Thuy Nguyen District, Hai Phong province. CI2’s Construction Equity Fund has committed USD 24 million for the construction of the projects.
The plants will provide clean drinking water directly to households, industrial and commercial users in the region, benefiting approximately 150,000 people who currently rely on unsafe and untreated groundwater such as wells, and rainwater as their primary water sources. The two projects will create 200 jobs during the construction phase and close to 70 permanent jobs during operation. The operation of the water treatment plants will contribute to a strong foundation for social and economic development in the project areas.
CFM’s investment was announced at a groundbreaking ceremony of the Phu Binh Project on 16 May 2024 in Thai Nguyen province, Vietnam to celebrate the commencement of construction of the plant.
Ambassador Kees van Baar, Ambassador of the Kingdom of the Netherlands to Vietnam, who attended the event said: “I am proud that the Government of the Netherlands can contribute to this project via Climate Fund Managers. It is a concrete commitment of the Netherlands to work together with Vietnam to develop a sustainable and inclusive economy.”
Mr. Kees Van Baar's Speech at the Groundbreaking Ceremony of Phu Binh Water Supply Plant
Ambassador Ngo Huong Nam, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to the Netherlands, expressed in a congratulatory letter: “We have observed the relentless efforts of numerous organizations and individuals in tackling the clean water issue. The investments made by investors like CFM as well as CA Water Company, exemplify the spirit of collaboration and social responsibility in addressing this challenge.”
Source: CFM Invests in CA Water to Advance Clean Water Supply in Vietnam – Climate Fund Managers
