Vietnam’s sustainable finance market gains steam as banks boost green lending

[HO CHI MINH CITY] The new sustainable loan framework issued by the Bank for Investment and Development of Vietnam (BIDV) will accelerate the commercial bank’s development of new sustainable financial products.

These include preferential funding for large projects in renewables and environmentally-friendly technology applications, a spokesperson for the bank told The Business Times.

On Feb 16, BIDV issued this loan framework in consultation with global climate consultancy Carbon Trust, with the aim of boosting the bank’s green and sustainability-linked outstanding loans to US$3 billion by 2025, from US$2.68 billion as of the end of last year.