VPBank, Proparco cooperate to promote green credit in Vietnam
VPBank and Proparco - the private sector financing branch of Agence Française de Développement (AFD) have signed a 50-million-USD loan with the aim of supporting climate-friendly initiatives, green and energy efficient projects, as well as small-and-medium enterprises (SMEs) in the country.
VPBank's headquarters in Hanoi. (Photo: courtesy of VPBank)
VPBank and Proparco - the private sector financing branch of Agence Française de Développement (AFD) have signed a 50-million-USD loan with the aim of supporting climate-friendly initiatives, green and energy efficient projects, as well as small-and-medium enterprises (SMEs) in the country.
Under the agreement, some 15 million USD, or 30 percent of the loan, will mainly be earmarked for climate-friendly and energy efficient projects financed by VPBank. This credit source is part of VPBank's commitment to sustainable development, contributing to the development of environmentally friendly projects in Vietnam. The remaining 70 percent of the loan, amounting to 35 million USD, will be dedicated to supporting VPBank’s SME financing activity. The loan will help local SMEs gain more access to bank credit and services, in the current context of fewer financing sources for SMEs in the country.
Magali Roux, Proparco’s Regional Director in Southeast Asia, said their new partnership with a leading local bank could support Vietnamese SMEs and promote green credit to combat climate change.
In January, VPBank signed a green credit loan agreement worth 212.5 million USD with the International Finance Corporation and other international co-financiers. The five-year tenor loan comprises 50 million USD from IFC’s own account, 37.5 million USD from the multi-investor Managed Co-Lending Portfolio Program (MCPP) managed by IFC, and 125 million USD in syndicated loans from the Chinese Bank of Communications Company Limited; Industrial and Commercial Bank of China Limited; Korean KEB Hana Bank; Thai Kiatnakin Bank Public Company Limited; German DEG — Deutsche Investitions- und Entwicklungesellschaft mbH; and multilateral International Investment Bank.
This is the first green loan transaction in Vietnam.
The partnership with Proparco has affirmed VPBank’s prestige as one of the banks in the Top 300 most valuable bank brand names in the world. This is the second time that VPBank has been contracted by reputable financial institutions in the world to provide green credit and finance to support SMEs - one of its three strategic customer segments./.
en.vietnamplus.vn
Tags:
Related News
Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month
16:30 | 15/02/2025 Import-Export
VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
Vietnam, Korea Customs sign AEO MRA
11:07 | 26/12/2024 Customs
VCN- The Director General of the General Department of Vietnam Customs (GDVC), Mr Nguyen Van Tho, and the Commissioner of Korea Customs Service (KCS), Mr Ko Kwang Hyo, signed the Authorized Economic Operator Mutual Recognition Agreement (AEO MRA) on the afternoon of December 24, at the GDVC’s headquarters.
Prioritizing semiconductor workforce training
09:16 | 15/12/2024 Headlines
VCN - Vietnam is well-positioned to participate deeply in the global semiconductor industry. Experts believe that developing a skilled workforce in microchips and semiconductors should be a long-term priority to effectively capitalize on this opportunity.
Vietnamese businesses struggle to access green finance
09:58 | 18/12/2024 Import-Export
VCN - Green finance is gradually becoming an indispensable tool in Vietnam to support businesses, promote sustainable development, and move towards the goal of Net Zero. However, the path to accessing green capital is full of barriers, especially for small and medium enterprises.
Latest News
Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance
Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance
With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance
According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance
VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units with large asset scale and large number of inventory items, complex assets, and slow implementation progress.
More News
The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance
VCN - The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more; the average growth rate of the consumer price index (CPI) to about 4.5-5%.
Fiscal, monetary policies support demand stimulation, price stabilisation
14:49 | 14/02/2025 Finance
These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.
Vietnam secures VND 157 billion from state enterprise divestment in 2024
09:16 | 14/02/2025 Finance
VCN - The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion
Vietnam gears up for potential inflation impact in 2025
14:26 | 11/02/2025 Finance
VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.
VN’s credit conditions in 2025 expected to be stable
14:24 | 11/02/2025 Finance
The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
State revenue in first month of the year equal to 14% of the estimate
10:12 | 11/02/2025 Finance
VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Securities 2025 expects a breakthrough in scale and quality
14:37 | 10/02/2025 Finance
VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.
Cash reserves in stock accounts at six-quarter low amid margin rise
08:23 | 10/02/2025 Finance
These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025
10:01 | 07/02/2025 Finance
VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Your care
Latest
Most read
Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance
Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance
With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance
According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance
VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units
The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance
The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more