Four Vietnamese banks join 5.6 trillion USD green finance network
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), Orient Commercial Joint Stock Bank (OCB), Vietnam Maritime Commercial Joint Stock Bank (MSB) and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) are among 20 institutions selected for the International Finance Corporation’s (IFC) Alliance for Green Commercial Banks’ first cohort.
Executives of Vietnamese banks pose for a photo with the founding members of the Alliance for Green Commercial Banks. (Photo: VNA)
Hanoi (VNA)♊ - Four Vietnamese commercial banks have joined the International Finance Corporation’s (IFC) Alliance for Green Commercial Banks, a global platform designed to drive sustainable finance and promote green banking practices in emerging markets.
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), Orient Commercial Joint Stock Bank (OCB), Vietnam Maritime Commercial Joint Stock Bank (MSB) and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) are among 20 institutions selected for the alliance’s first cohort. Together, these members represent more than 5.6 trillion USD in assets.
The alliance serves as a platform for banks committed to embedding sustainability in their strategies while financing the transition to low-carbon, resilient and inclusive economies. Its activities cover renewable energy, energy efficiency, sustainable transport, climate adaptation and nature-based solutions.
In Asia, the programme is supported by the Hong Kong Monetary Authority, with Bank of China (Hong Kong), Citi, Crédit Agricole CIB, HSBC and Standard Chartered named as its Cornerstone Banks. Knowledge Partners such as the CFA Institute, Renewables Academy, and the UN Environment Programme also provide expertise and market insights.
Allen Forlemu, IFC Regional Industry Director for Asia Pacific’s Financial Institutions Group, said the alliance represents a new level of commitment among banks to sustainable finance.
“It is more than a network – it is a community of committed institutions working together to close the climate finance gap and place emerging markets at the forefront of sustainable growth,” he said.
The alliance’s inaugural members span eight markets, including France, China, Indonesia, the Philippines, Thailand, Cambodia, Vietnam and Laos. Their participation is expected to expand access to advisory services, financing solutions and knowledge-sharing opportunities, supporting the region’s transformation towards greener economies./.
The SBV’s draft decree stipulates that member banks of the IFC will not benefit from early intervention, special control measures, restructuring support, or special loans in case of distress. Instead, the resolution approach will be license revocation, dissolution, bankruptcy, and asset liquidation.
Among 29 commercial banks, 11 reported a decline in bad debt ratios in the second quarter, including National Citizen Commercial Joint Stock Bank (NBC) from 19.54% to 11.35% and Agribank from 1.68% to 1.43%.
Vietnam values its international partnerships, including with the UK, Finance Minister Nguyen Van Thang noted, urging UK companies, funds and financial institutions, and those from Europe and worldwide, to continue expanding investment, transferring know-how, sharing management experience and advancing green finance and technology to realise Vietnam’s sustainable development vision.
Vietnamese Minister of Finance Nguyen Van Thang expressed gratitude for the UK’s active role in supporting Vietnam’s efforts to draft a National Assembly resolution on creating an international financial centre. The City of London, he noted, provided pivotal insights and recommendations to shape the groundwork and development roadmap for this hub.
Vietnam is ready to deepen economic cooperation with the Association of Southeast Asian Nations (ASEAN), China and other partners, embracing a strategy of “harmonised interests and shared risks” as it leverages its fast-growing economy and market of over 100 million people.
Tay Ninh, Nghe An and Quang Tri provinces have strategic locations and significant cooperation potential, said Nguyen Thi Thai Binh, Minister-Counsellor at the Vietnamese Embassy, expressing confidence that with creativity and determination, these provinces and their Korean partners will find ample opportunities for productive collaboration.
Jointly organised by the Vinexad National Trade Fair and Advertising JSC and Yorkers Exhibition Service Vietnam, the event features 1,200 booths of more than 650 exhibitors from 20 countries and territories, including Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Singapore, Switzerland, Thailand, and the US.
Public investment should serve as a key driver of growth, acting as seed capital to catalyse and mobilise all social resources, thereby fostering economic expansion, creating jobs and livelihoods, and improving the material and spiritual well-being of the people, PM Pham Minh Chinh stated.
An official of the Foreign Trade Agency laid stress on the foundational role of rules of origin in international trade, highlighting the importance of capacity building for enforcement officers in the context of deep international integration.
Against the backdrop of the growing comprehensive strategic partnership between Vietnam and Russia, the promotion and export of Vietnam’s agricultural products not only diversify supply sources for the Russian market but also help enhance the brand values and competitiveness of Vietnamese enterprises in the market that remains untapped.
International trade is no longer merely an exchange of goods but a strategic lever enabling Vietnamese enterprises to enhance capacity, secure partnerships, and expand globally.
In the first eight months of 2025, Vietnam’s total trade value reached nearly 600 billion USD, up 16.3% year on year. Of this, exports stood at 306 billion USD, a 14.8% increase, already surpassing the full-year target.
Vietnam aims to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit.
Reaffirming Vietnam’s commitment to foreign investors, Finance Minister Nguyen Van Thang said government policies always aim to ensure transparency, fairness and a mutually beneficial environment that promotes innovation and safeguards investor rights, making Vietnam a sustainable and long-term investment destination.
The State Bank of Vietnam must launch an official gold price information portal, study the establishment of gold exchanges, and issue guiding documents to implement the Government’s decree on the management of gold trading activities.
According to the World Bank Group, Vietnam will need approximately 368 billion USD in investment for climate adaptation and carbon reduction projects by 2040. Yet, as of the end of 2024, green credit accounted for just 4.5% of the country’s total outstanding loans.
Amidst robust digital transformation across all sectors, the food processing industry has tapped such digital technologies as Internet of Things, AI, blockchain and Big Data to optimise production process, control supply chain, and meet consumers’ demands.
The French side pledged to share technical guidelines and safety standards, with the Institute for Radiological Protection and Nuclear Safety (IRSN) ready to provide training for Vietnamese specialists.
Vietnam now has more than 940,000 private enterprises and over 5 million household businesses, contributing approximately 50% of GDP, over 30% of state budget revenue, and employing 82% of the national workforce.
Businesses underlined the need for expanding green credit and non-collateral concessional loans for circular agriculture projects, facilitating their participation in national key projects, and fostering alliances among Vietnamese enterprises as well as cooperation with regional partners.
