Vietcombank issues 2 trillion VND worth of green bonds for first time
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND worth of green bonds, the first of its kind, to support eco-friendly projects.
Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND (80 million USD) worth of green bonds, the first of its kind, to support eco-friendly projects.
The move not only helps Vietcombank raise capital efficiently but also reaffirms its pioneering role in the field of sustainable finance. In the future, Vietcombank will continue to prioritise resources for green credit, contributing to socio-economic development and environmental protection, said Executive Deputy Head of VCB Treasury and Market Division Vu Quang Dong.
The green bond issuance, structured without requiring collateral or payment guarantees, will finance projects in renewable energy, sustainable transport water management, green buildings, waste management, sustainable agro-forestry-fisheries and energy efficiency.
As the first bank in Vietnam to issue green bonds in accordance with domestic regulations and international standards, Vietcombank has adhered to the Green Bond Principles set by the International Capital Market Association (ICMA). Its green bond framework was developed with the support of the Global Green Growth Institute (GGGI) and highly rated by S&P Global with a Medium Green rating, reflecting its transparency, quality and strong governance.
ꦦ Based on its development strategy for 2025 with a vision for 2030, Vietcombank focuses on building a green banking strategy and diversifying green financial instruments. It is working to refine criteria and policies to direct credit flows toward businesses that use new technologies, have low carbon emissions, and stay competitive in the international market, including those investing in renewable energy, clean energy, green infrastructure, and startup communities./.
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