France's Proparco and Netherlands' FMO invest $80 million in SeABank

France's Proparco and Netherlands' FMO invest $80 million in SeABank

The French Development Finance Institution (Proparco) and the Dutch Entrepreneurial Development Bank (FMO) have signed a loan agreement worth $80 million with SeABank.

The funding strengthens SeABank's financial capacity to enhance financial access, improve capacities and expand key business areas for Vietnamese small and medium-sized enterprises (SMEs) and women-owned enterprises; while improving the implementation of international practices in environmental and social risk management and climate change mitigation.

This also marks the beginning of a partnership focused on economic growth and financial inclusion between SeABank and the French and Dutch government-owned financial institutions.

Le Van Tan, chairman of the board at SeABank, highlighted SeABank's customer-centric commitment to guaranteeing equal financial access for all individuals and businesses. He emphasised, "The investment aligns with SeABank's sustainability strategy and enhances SeABank's ability to offer effective financial solutions, support small- and medium-sized enterprises (SMEs), women-owned entrepreneurs, and climate action.".

Olivier Brochet, French ambassador to Vietnam, expressed his support for Proparco's activities in the Vietnamese market. "As the Vietnam-France relationship has been elevated to a comprehensive strategic partnership, we remain committed to supporting Vietnam's development. This cooperation is in line with our strategic direction and the common commitments made at the G7 Summit 2024, particularly aiming to address challenges of the new era through ecosystem protection and SME and women-owned entrepreneurs support," he said.

Kees van Baar, Dutch ambassador to Vietnam, highlighted the Netherlands' role as Vietnam's largest European investor and trading partner, with common strengths in water resources and shared development objectives of driving growth in Vietnam, focusing on SMEs and women-owned enterprises.

Kees van Baar emphasised the reason for choosing SeABank as a partner, saying, "SeABank has a clear strategic vision in providing financial solutions that support private enterprises, SMEs, and women-owned enterprises; along with international reputations and networks to implement these initiatives. I believe that FMO and Dutch enterprises, together with SeABank and its ecosystem partners will have cooperative opportunities in the near future".

With this investment, SeABank's total international mobilisation has reached nearly $1.1 billion. This includes loans, credits, and trade finance from major financial institutions such as DFC, IFC, AIIB, Norfund, and OPEC. The growing trust from global partners demonstrates SeABank's strong reputation, operational efficiency, and commitment to supporting SMEs and women-owned enterprises.

VIR