Raising funding for HDBank to 100 million USD, strengthening sustainable development goals

Photo: HDBank

This new capital brings the total value that Proparco has provided to HDBank to date to 100 million USD, demonstrating Proparco's trust and commitment to accompany HDBank on its journey of sustainable development, to finance/refinance climate finance projects and support women-owned businesses to meet the standards of the 2X Challenge Program - a global initiative to promote gender equality and sustainable development.

Previously, HDBank and Proparco had made many important steps in the process of expanding cooperation. In August 2021, Proparco first provided HDBank with a 5-year credit of 50 million USD, helping the Bank finance renewable energy projects in Vietnam.

Currently, HDBank is acting as a bridge between Vietnamese enterprises and Proparco, bringing about potential cooperation to contribute to promoting the implementation of sustainable development goals globally. Together with a number of other international financial institutions, Proparco has made positive contributions to the process of building and perfecting HDBank's Environmental and Social Risk Management System.

Increasing support for renewable energy projects, climate finance and promoting gender equality with Proparco is an important and necessary step to help HDBank continuously expand cooperation with major financial institutions in the world , especially in the field of green finance. This credit contract with Proparco is not only about capital but also affirms HDBank's strong commitment to effectively implementing ESG (Environment, Society and Governance) according to international standards.

In Vietnam, HDBank is the first commercial bank to pioneer the issuance of a separate report on Sustainable Development in 2024; it is also the first commercial bank to establish an ESG Committee under the Board of Directors to directly lead and supervise the implementation of sustainable development goals and initiatives.

With its positive contributions to the field of green credit and sustainable development, over the years, HDBank has received recognition and high appreciation from many international organizations: HDBank is the first member bank of the Asian Development Bank (ADB) to receive the "Green Deal Award"; the "Best Green Financing in Vietnam" award from The Asian Banker Vietnam Excellence Awards; most recently, ADB honored HDBank for the second consecutive time as the "Leading Partner Bank in Vietnam" in the Trade and Supply Chain Finance Program (TSCFP).

Proparco is a development finance institution of the French Development Agency (Agence Française de Développement-AFD). For over 40 years, Proparco has supported private sector development through lending, direct investment, and advisory support to private companies and financial institutions in Africa, Asia, Latin America, and the Middle East. Proparco's activities focus on key development sectors: infrastructure, renewable energy, agriculture , financial institutions, health, and education.

Source: https://laodong.vn/kinh-doanh/proparco-nang-muc-tai-tro-cho-hdbank-len-100-trieu-usd-cung-co-muc-tieu-phat-trien-ben-vung-1395509.ldo