HDBank joins forces with FMO to advance green finance

HDBank joins forces with FMO to advance green finance

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has expanded its international sustainability agenda through a new cooperation agreement focused on advancing green finance.

Ambassador Kees van Baar (third from left), HDBank deputy CEO Tran Hoai Nam (second from left), and Dutch Minister Aukje de Vries (centre) at the ceremony

On November 11, HDBank signed an MoU on sustainable finance and investment cooperation with the Dutch Entrepreneurial Development Bank (FMO). The ceremony was held during the visit to Vietnam by a Dutch business delegation led by Aukje de Vries, Minister for Foreign Trade and Development Cooperation of the Netherlands.

Following the deal, the two parties agree to cooperate on the implementation of FMO’s $30 million investment in HDBank's first international green bond issuance scheme, which is expected to reach a total size of up to $100 million.

"Through this partnership, we aim to drive sustainable and inclusive economic progress in Vietnam," said Juan Jose Dada Ortiz, director of Financial Institutions at FMO. "Our participation in HDBank’s first green bond is an important milestone and the beginning of what will be a strong and lasting collaboration."

FMO and HDBank plan to explore further cooperation in areas including green finance, renewable energy, and support for small and medium-sized enterprises, aiming to contribute to more inclusive, resilient, and sustainable economic growth in Vietnam.

Sustainable private sector growth in developing countries and emerging markets is supported through investments in ambitious projects and entrepreneurs, with a focus on sectors that have high development impact, including agribusiness, food and forestry, energy, and financial institutions. With a committed portfolio of €13.5 billion ($15.7 billion) across more than 85 countries, FMO ranks among the larger bilateral private sector development banks globally.

HDBank is a major commercial bank in Vietnam, serving over 20 million individual and corporate customers. The bank has been at the forefront of digital transformation, developing an integrated finance–consumer–digital services' ecosystem, and has taken a leading role in green finance and sustainable development, supporting inclusive economic growth in the country.

VIR