AsemconnectVietnam - The Asian Infrastructure Investment Bank (AIIB) deployed an investment package worth USD75 million in green bonds issued by Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB).

AIIB is a multilateral development bank established by more than 50 founding member countries in and outside the Asia-Pacific region. Operating with the goal of supporting infrastructure construction and promoting sustainable economic development in the region, AIIB focuses on key investment areas such as energy, transportation and clean water. As one of the founding members of the AIIB in the region, as well as a country with a long coastline with great potential for developing a blue economy, Vietnam is one of the suitable prospective investment subjects with the goals of this organization.
AIIB's investment of USD75 million in SeABank's blue and green bond project will help the Bank consolidate its capital resources towards expanding financing for sustainable economic activities associated with the sea and water, while growing green assets such as green buildings, renewable energy and energy efficiency.
Mr. Gregory Liu, General Director in charge of Global Funds and Financial Institutions, AIIB, said that Vietnam's Nationally Determined Contribution (NDC) plan emphasized the important role of resource mobilization from financial and credit institutions to support the realization of ambitions on climate change mitigation and adaptation.
"AIIB is pleased to partner with IFC and SeABank in this innovative investment program, thereby complementing ongoing initiatives to reduce greenhouse gas emissions and contribute to the development of capital markets in theme. We hope there will be more theme bonds issued by other Vietnamese financial institutions in the future," said Mr. Gregory Liu.
Ms. Le Thu Thuy, Vice Chairman of the Board of Directors of SeABank shared: “The issuance of green bonds, including Vietnam's first blue bond and the first green bond by a private commercial bank domestically, is one of SeABank's priority activities in the current period, demonstrating the Bank's commitment to sustainable development. We hope that the cooperative relationship with financial institutions such as AIIB and IFC will help strengthen capital sources to support SeABank in promoting green credit as well as strongly deploying sustainable strategies associated with the green economy”.
This investment is promoted through IFC - one of the strategic partners that have accompanied SeABank in the process of implementing sustainable projects associated with green finance and comprehensive finance, with the support of Australian government. Recently, IFC provided an investment worth 150 million USD to SeABank to build a blue financial market, while promoting green bonds and supporting small and medium-sized enterprises in Vietnam.
N.Nga
Source: VITIC/Tinnhanhchungkhoan