AIIB provides funding worth $75 million to a Vietnamese bank for its first-ever blue bond
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The Asian Infrastructure Investment Bank (AIIB) has signed a $75 million financing contract to support green and blue bonds to be issued by Southeast Asia Commercial Joint Stock Bank (SeABank), headquartered in Vietnam.
This marks the first-ever blue bond issued from Vietnam and AIIB’s first investment in a blue bond.
The project is anticipated to advance SeABank’s capital foundation, enabling the expansion of financing for sustainable economic activities related to water and the sea.
Additionally, it aims to increase green assets, including green buildings, renewable energy, and energy efficiency.
AIIB also said that Vietnam has long coastlines with significant potential for developing a blue economy.
Gregory Liu, AIIB Director General of Financial Institutions and Funds, Global, said, “Vietnam’s Nationally Determined Contribution lays emphasis on the importance of resource mobilization from financial and international credit institutions to support climate mitigation and adaptation ambitions.”
Le Thu Thuy, SeABank Vice Chairwoman of the Board of Directors, added, “We hope our partnerships with financial institutions such as AIIB and IFC would supplement SeABank’s capital sources to foster green credit and sustainable strategies associated with the green and blue economies.”
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SeABank has also been involved in implementing financial inclusion projects for small and medium enterprises and women-owned enterprises, as well as green finance and climate change mitigation initiatives.
AIIB said it is dedicated to supporting SeABank’s efforts to expand partnerships and implement sustainable projects, aiming to create positive socioeconomic and environmental impacts.
This support contributes to national goals of green transition and Net-Zero commitments.
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