Proparco increases credit limit to HDBank to $100 million , underpins sustainable development efforts

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and Proparco, a French development finance institution, have signed a credit facility worth US$50 million in HCM City on September 16. This brings the total financing for HDBank to $100 million, demonstrating Proparco s trust and commitment to HDBank. The funds will be allocated to finance/refinance climate projects and support women-led enterprises in line with the 2X Challenge Programme, which aims to promote gender equality and sustainable development. HDBank and Proparco have a history of successful cooperation, with Proparco granting a five-year credit facility worth $50 million to HDBank in August 2021 to finance renewable energy projects in Vietnam. HDBank now acts as a bridge between Vietnamese enterprises and Proparco to explore potential collaborations for sustainable development. Proparco has assisted HDBank in establishing and refining its environmental and social risk management system. Strengthening support for renewable energy projects, climate finance, and promoting gender equality with Proparco is crucial for HDBank to expand its partnerships with major financial institutions globally, especially for green finance. The credit agreement with Proparco not only provides capital but also affirms HDBank s strong commitment to implementing ESG (Environmental, Social, and Governance) standards according to international norms. HDBank has been recognized and honored by many international organizations for its positive contributions to green credit and sustainable development. Proparco, a development finance institution under the French Development Agency (Agence Française de Développement), has been supporting private sector development in Africa, Asia, Latin America, and the Middle East for over 40 years. Its operations focus on key development sectors like infrastructure, renewable energy, agriculture, financial institutions, health, and education. In summary, the US$50 million credit facility between HDBank and Proparco demonstrates the commitment of both institutions to sustainable development, gender equality, and green finance. This partnership will help HDBank finance climate projects and support women-led

Source: vietnamnews.vn
Published on 2024-09-17