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HDBank and Proparco’s leaders signed a credit facility worth US$50 million.

HDBank and Proparco’s leaders signed a credit facility worth US$50 million.

HO CHI MINH CITY (VIETNAM) September 20, 2024 – The HDBank and Proparco, the private sector financing arm of Agence Française de Development Group (AFD Group), have signed a credit facility worth US$50 million.

The new agreement brings the total credit facility for HDBank to $100 million, showcasing Proparco’s trust and commitment to it.

The proceeds will be used to finance/refinance climate projects and support women-owned/ women-led enterprises that meet the criteria of the 2X Challenge program, a global initiative to promote gender equality and sustainable development.

HDBank and Proparco have made significant strides in cooperation in the past few years.

In August 2021, for the first time, Proparco granted a five-year credit facility worth $50 million to it to help it finance renewable energy projects in Vietnam.

HDBank now serves as a bridge between Vietnamese enterprises and Proparco to explore potential collaborations for the purpose of boosting sustainable development globally.

Along with other international financial institutions, Proparco has made a great contribution to help HDBank establish and perfect its environmental and social risk management policy and system.

Strengthening support from Proparco for renewable energy projects, climate finance and promoting gender equality is crucial and essential for HDBank to further expand its partnerships with major financial institutions globally.

This credit agreement not only provides funding to HDBank but also affirms its strong commitment to effectively implementing ESG (Environmental, Social, and Governance) standards according to international norms.

It became the first commercial bank to publish a Sustainability Report in 2024 in Vietnam and also pioneered the establishment of the ESG Committee under its board of directors to directly lead and supervise implementation of sustainable development goals and initiatives.

It has been recognised and honoured by many international organisations in recent years for its positive contributions to green credit and sustainable development.

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It was the first partner bank of the Asian Development Bank (ADB) to receive the Green Deal Award.

Most recently ADB recognised HDBank for a second consecutive time as the “Leading Partner Bank in Vietnam” in its Trade and Supply Chain Finance Program.

The issuer is solely responsible for the content of this announcement.

EOM.

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