HCM City (VNS/VNA) - Proparco, the private sector financingbranch of Agence Française de Developpement (AFD), has granted a 50 million USDloan to HDBank to finance green projects and promote sustainable development inVietnam.

It marks the first collaboration between Proparco and HDBank.

A pioneer in green lending, HDBank has in past years helpedfoster Vietnam's economic development while minimising the impacts on theenvironment.

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

All projects funded by HDBank satisfy green criteria such asreducing energy consumption, reducing CO2 emissions, reducing pollution, andtargeting sustainable growth.

Green projects promise to create more than 1,350 direct andindirect jobs.

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

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

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

As of August 31 this year, its outstanding loans to greenprojects were worth nearly 13.5 trillion VND (593.2 million USD).

Through its green credit programme, the lender not only provides customers withthe best financial solutions but also targets sustainable values, promotesrenewable energy, ensures the national energy security, supports hi-techagriculture, 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 ingreen finance while participating in the ADB Trade Finance Programme.

It was also voted by readers of Vietnam Economic Times as theBest Bank for Green Credit Financing in 2019./.