The International Finance Corporation (IFC) lends a US$100 million long-term loan to Orient Commercial Joint Stock Bank (OCB) for promoting climate-friendly projects in Vietnam. The loan will support OCD to expand lending to small and medium enterprises (SMEs). The SMEs need financing in some fields including renewable energy, energy efficiency, and climate-smart solutions. By doing this, enterprises can develop sustainably and contribute to reducing greenhouse gases emissions.
Green banking has been promoted in Vietnam for several years, however, the climate-finance market is relatively new. Banks presently consider a systematic approach toward climate finance.
Source & further information: “IFC lends $100 million to OCB to boost climate finance in Việt Nam” https://vietnamnews.vn, accessed on 13 July 2021.