The US$15.5 billion Just Energy Transition Partnership (JETP) agreement developed by the G7 and a handful of other countries to help Vietnam wean itself off coal is mostly market-rate loans that Hanoi didn’t really want and only US$300 million worth of grants, Reuters is reporting.

Why it matters: Vietnam was a hold-out last year as other nations signed on to similar agreements looking for a bigger and better deal with as much grant money and as little loan money as possible. This agreement looks to be the opposite of that. That said, there has not as yet a response from the government yet so it’s not clear how this is going down among key decision makers.

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