European Investment Bank helps Vietnam “unlock” green finance
The partnership will take advantage of the European bank’s Greening Financial Systems (GFS) technical assistance programme to strengthen Vietnam’s financial sector for climate investments.
Brussels (VNA) – Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Ngoc Canh and Vice-President Nicola Beer of the European Investment Bank (EIB), the financing arm of the European Union (EU), have agreed to advance green finance cooperation, as part of the latter’s visit to Vietnam.
According to the EIB’s press release, the partnership will take advantage of the European bank’s Greening Financial Systems (GFS) technical assistance programme to strengthen Vietnam’s financial sector for climate investments.
This collaboration EU’s Global Gateway priorities for sustainable finance and climate action.
Through the technical assistance programme, the SBV is expected to receive support to strengthen climate risk management, expand green finance, attract investment, adopt global best practices and develop sustainable finance policies. The bank will be empowered to strengthen the Vietnamese financial sector’s ability to support climate investments, in line with the country’s Just Energy Transition Partnership (JETP).
“This partnership with the SBV will help unlock green financing, equip Vietnam’s financial sector with the tools to integrate climate risks, and accelerate funding for renewable energy, clean transport and resilient infrastructure,” said EIB Vice-President Nicola Beer.
EIB Global has been a trusted partner of the Southeast Asian nation since 1997, providing over 561 million EUR in financing for sustainable transport, renewable energy and climate action.
🅘 As part of its deepening engagement, the EIB is committed to establishing a 500 million EUR framework loan with the Ministry of Finance to support JETP implementation. This financing will prioritise investments in renewable energy and sustainable transport, reinforcing the EIB’s role as a key Global Gateway partner in Vietnam’s green transition and sustainable economic growth./.
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