EIB and SBV deepen green finance cooperation to support energy transition

EIB and SBV deepen green finance cooperation to support energy transition

The European Investment Bank (EIB), the financing arm of the European Union, and the State Bank of Vietnam (SBV) on March 12 announced commitments to deepening their cooperation on sustainable finance through technical assistance under the EIB’s Greening Financial Systems (GFS) programme.

The SBV is expected to receive support to strengthen climate risk management, expand green finance, attract investment, adopt global best practices, and develop sustainable finance policies.

Financed by the German Ministry for Economic Affairs and Climate Action, the GFS programme aims to help central banks and financial institutions to integrate climate risk into regulatory frameworks and promote private sector engagement in sustainable finance.

Through this partnership, the SBV will be empowered to strengthen the Vietnamese financial sector’s ability to support climate investments, in line with the country’s Just Energy Transition Partnership (JETP).

EIB vice-president Nicola Beer said, “This partnership with the SBV will help unlock green financing, equip Vietnam’s financial sector with the tools to integrate climate risks, and accelerate funding for renewable energy, clean transport and resilient infrastructure. By strengthening green finance, the EIB is supporting Vietnam to draw investment, create economic opportunities, and build a future-proof economy that benefits both individuals and businesses.”

EU Ambassador to Vietnam Julien Guerrier said, “It is very encouraging that the EIB and the SBV are ready to join forces to strengthen the standards for managing climate risks and green financing in Vietnam. In turn, this should allow for public and commercial banks to accelerate financing for JETP actions.”

Deputy Governor of the SBV Nguyen Ngoc Canh said, “We highly value our partnership with the EIB in advancing green finance cooperation. The EIB’s GFS technical assistance programme will help strengthen our capacity in climate finance policy development, risk management, and private sector mobilisation, thereby unlocking new opportunities for climate investments. This collaboration supports Vietnam’s JETP and aligns with the European Union’s Global Gateway priorities for sustainable finance and climate action. We are confident that our combined efforts will fortify the resilience of our financial system and expedite Vietnam’s transition towards a low-carbon, sustainable economy.”

EIB Global has been a trusted partner of Vietnam since 1997, providing over €561 million ($611.3 million) in financing for sustainable transport, renewable energy, and climate action.

As part of its deepening engagement, the EIB is committed to establishing a €500 million ($544.8 million) framework loan with the Ministry of Finance to support JETP implementation. This financing will prioritise investments in renewable energy and sustainable transport, reinforcing the EIB’s role as a key Global Gateway partner in Vietnam’s green transition and sustainable economic growth.

VIR