ADB approved a $135 million loan for Viet Nam’s first fully electric public transport bus fleet and first national electric vehicle (EV) charging network. The assistance will support Viet Nam’s efforts to achieve net-zero greenhouse gas emissions and expand high-tech manufacturing industries. The transport sector in Viet Nam accounts for 18% of the country's annual greenhouse gas emissions. Decarbonization of the transport sector through electric mobility will help in achieving the country’s ambition to reach net zero emissions by 2050. The 7-year tenor climate financing comprises a $20 million loan funded by ADB, parallel loans $87 million facilitated by ADB as mandated lead arranger, and concessional financing of up to $28 million. Climate financing is certified by the Climate Bonds Initiative, a scientifically based standard for labeling bonds, loans, and other debt instruments which contribute to addressing climate change.