On July 1, 2024, the Asian Infrastructure Investment Bank (AIIB) launched a $75 million investment package 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 AIIB in the region, and a country with a long coastline with great potential for developing a blue economy, Vietnam is one of the promising investment targets that fits the organization's goals.
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AIIB’s $75 million investment in SeABank’s blue and green bond project will help the Bank further consolidate its capital resources towards expanding financing for sustainable economic activities linked to the sea and water, and growing green assets such as green buildings, renewable energy and energy efficiency.
“Vietnam’s Nationally Determined Contribution (NDC) highlights the important role of mobilizing resources from financial and credit institutions to support the realization of climate change mitigation and adaptation ambitions. AIIB is pleased to partner with IFC and SeABank on this innovative investment program, which complements ongoing initiatives to reduce greenhouse gas emissions and contributes to the development of thematic capital markets,” said Gregory Liu, General Manager of Global Funds and Financial Institutions, AIIB. “We look forward to seeing more thematic bonds issued by other Vietnamese financial institutions in the future.”
“The issuance of green bonds, including the first blue bond in Vietnam and the first green bond by a domestic private commercial bank, is one of SeABank's priorities in the current period, demonstrating the Bank's commitment to sustainable development. We hope that the cooperation with financial institutions such as AIIB and IFC will help strengthen the capital source to support SeABank in promoting green credit as well as strongly implementing sustainable strategies associated with the green economy,” said Ms. Le Thu Thuy, Vice Chairwoman of SeABank's Board of Directors.
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This investment is facilitated through IFC – one of the strategic partners that has accompanied SeABank in implementing sustainable projects related to green finance and financial inclusion, with the support of the Australian government. Recently, IFC provided an investment of USD 150 million to SeABank to build a blue financial market, promote green bonds and support small and medium enterprises in Vietnam.
Sharing the same goal of promoting sustainable economic development in Vietnam, AIIB and IFC have committed to support SeABank in its blue and green bond project with a total investment of up to USD 150 million. In addition, IFC will advise SeABank on the application of green and blue bond frameworks, identify eligible green and blue assets, and develop a portfolio of potential projects.
Consistent with the goal of sustainable development, in recent years, SeABank has continuously promoted the application of international best practices in environmental and social risk management, effectively implementing comprehensive financial projects for small and medium enterprises and women-owned enterprises, green finance projects and climate change response. Up to now, the Bank has received trust and continuously received capital from prestigious international financial institutions such as DFC, IFC, ADB, etc. up to nearly 850 million USD.
SeABank's efforts to expand partnerships and implement sustainable projects promise to bring positive socio-economic and environmental impacts, thereby joining hands towards the country's common goal of green transformation towards net zero emissions.
| The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to finance Tomorrow’s Infrastructure – an infrastructure system with sustainability at its core. AIIB began operations in Beijing in January 2016 and has since grown to include 109 approved members globally. AIIB’s capitalization is $100 billion and the bank is rated Triple A by the world’s leading credit rating agencies. Working with its partners, AIIB meets the needs of its clients by mobilizing new capital and investing in green infrastructure, enabling high-tech and promoting regional integration. https://www.aiib.org/en/index.html |
Source: https://baodautu.vn/aiib-dau-tu-75-trieu-usd-vao-trai-phieu-xanh-do-seabank-phat-hanh-d218985.html
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