HDBank gets US$50 million from French development agency to finance green projects

HO CHI MINH CITY, VIETNAM – Media OutReach -
17 September 2021 – Proparco, the French
Development Finance Institution, has granted a US$50 million loan
to HDBank to finance green projects and promote sustainable development in Vietnam.

It
marks the first collaboration between Proparco and HDBank.

A
pioneer in green lending, HDBank has in past years helped foster Việt Nam’s
economic development while minimising the impacts on the environment.

The
loan will help the bank get closer to international standards in green credit.

All
projects funded by HDBank satisfy green criteria such as reducing energy
consumption, reducing CO2 emissions, reducing pollution, and targeting
sustainable growth.

Green
projects promise to create more than 1,350 direct and indirect jobs over the
coming years.

They
will contribute to achieving the United Nations’ Sustainable Development Goals.

Mr. Pham Quoc Thanh, Chief Executive Officer of HDBank stated:
“Being one of the pioneer bank in Vietnam in green credit, HDBank is strongly
committed to boost economic and social development while minimizing
environmental effects.  We are confident that the facility will move
HDBank a step closer towards international standards on the green credit. We
are pleased to have further collaboration with Proparco as well as other
development institutions to promote the sustainable development of Vietnam.”

Based
on their common views on sustainable development, creating long-term values for
the economy and community and society, the two sides promised to have more
strategic cooperation in future.

Since
2018 HDBank has been financing green projects to support high-tech agriculture
and renewable energy.

As
of August 31 this year its outstanding loans to green projects were worth
nearly VND13.5 trillion (US$593.2 million).

Through
its green credit programme, HDBank not only provides customers with the best
financial solutions but also targets sustainable values, promotes renewable
energy, ensures the national energy security, supports hi-tech agriculture, and
contributes to environmental protection.

HDBank
was the first member of the Asian Development Bank (ADB) to receive the Green
Deal Award, a recognition for its notable achievements in green finance while
participating in the ADB Trade Finance Programme.

HDBank
was also voted by readers of Vietnam Economic Times as the Best Bank for Green
Credit Financing in 2019.

#HDBank