Through a US$ 50 million loan, Proparco will help the bank’s objective to increase its support to projects with climate co-benefits. HDBank is a fast-growing Vietnamese private bank, mostly active in the retail and SME sectors. Since 2018, HDBank has been increasing its efforts towards the financing of green projects, including solar power plants and photovoltaic rooftops.
The $50 million loans granted by Proparco marks the first collaboration between the French Development Finance Institution and HDBank. With this loan, Proparco will support the development of the bank’s portfolio of climate-friendly projects.
“Proparco has made a priority of supporting private actors committed to the fight against climate change. We are delighted to initiate our partnership with HDBank through a loan which will contribute to the energy transition in Vietnam” said Raphaël de Guerre, Head of Proparco’s Regional office for North and South-East Asia.
Mr. Pham Quoc Thanh, Chief Executive Officer of HDBank stated: “Being one of the pioneer banks in Vietnam in green credit, HDBank is strongly committed to boosting economic and social development while minimizing environmental effects. We are confident that the facility will move HDBank a step closer towards international standards on green credit. We are pleased to have further collaboration with Proparco as well as other development institutions to promote the sustainable development of Vietnam.”
This operation should support more than 1,350 direct and indirect jobs over the coming years. Overall, this project will contribute to Sustainable Development Goals 8 (Decent Work and Economic Growth) and 13 (Climate Action).
