The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and development finance institution Proparco, the private sector financing arm of Agence Française de Développement Group, have signed a credit facility worth US$50 million in Ho Chi Minh City, Vietnam, on September 16.
The agreement brings the total credit facility for the bank to US$100 million.
Proceeds from the latest facility will be used to finance or refinance climate projects and support women-owned and -led enterprises that meet the criteria of the 2X Challenge programme, a global initiative to promote gender equality and sustainable development.
The bank and the institution have made significant strides in cooperation in the past few years. In August 2021, for the first time, the institution granted a five-year credit facility worth US$50 million to the bank to help it finance renewable energy projects in Vietnam.
The bank now serves as a bridge between Vietnamese enterprises and the institution to explore potential collaborations for the purpose of boosting sustainable development globally.
HDBank became the first commercial bank to publish a sustainability report in 2024 in Vietnam and also pioneered the establishment of an environmental, social and governance committee under its board of directors to directly lead and supervise implementation of sustainable development goals and initiatives.