The loan will contribute to environmental sustainability and will make long-term financing available for investments that contribute to climate change mitigation through the avoidance or reduction of emissions of greenhouse gases.
The loan will be provided through the Ministry of Finance to four state-owned banks for on-lending to small-scale climate change projects. The four state-owned banks, among the largest in Vietnam, have the ability to source and manage investment schemes in the energy and industrial sectors.
Interested promoters should address their requests to any of the participating banks, namely Bank for Investment and Development of Vietnam (BIDV), Vietnam Bank for Industry and Trade (Vietinbank), Bank for Agriculture and Rural Development (Agribank) and Vietnam Development Bank (VDB).
This is the second loan of its kind in Vietnam, the first one being the Vietnam Climate Change Framework Loan worth 100 million euros signed in May 2009 for financing investments that contributed to the mitigation of climate change, which has been implemented successfully by both sides.
This loan is provided under the Climate Change Mandate 2011-2013 and is the EIB’s eighth operation in Vietnam, where it started operations in 1996. Since then, EIB financing in Vietnam has reached almost 650 million euros, including this loan.