BIDV allocates 4,200 billion VND in green credit for textile and garment enterprises

10/05/2023 16:03

In order to support textile and garment enterprises in the green transition towards sustainable development, the Bank for Investment and Development of Vietnam (BIDV) has launched a green credit package of VND 4,200 billion with attractive incentives on interest rates, collateral policies and exchange rates. The program will be implemented until June 30, 2024 or until the budget is fully disbursed.

BIDV allocates 4,200 billion VND in green credit for textile and garment enterprises

Accordingly, textile and garment enterprises eligible to participate in the program will be supported with short-term and long-term loans at competitive interest rates to accelerate the green transition towards sustainable development. At the same time, enterprises will also enjoy preferential policies on collateral and preferential exchange rates of up to 170 points for foreign currency transactions on BIDV iBank.

Specifically, short-term green loans are loans for textile and garment enterprises with production and business plans for textile and garment products that meet standards, are certified or have sustainable labels (global recycling standard - GRS; sustainable cotton label - BCI; C2 sustainable product certification; zero discharge of hazardous chemicals standard - ZDHC...).

Medium and long-term green loans are loans to finance projects to build/renovate green buildings, replace and renovate machinery and equipment towards efficient energy use such as thermal power systems, by-product recovery and utilization systems, waste treatment systems, etc.

In addition, businesses will also be consulted on the use of comprehensive financial solutions to support the enhancement of business efficiency such as trade finance, guarantees, cash flow management, international money transfers to and from...

In particular, the products and services bring many benefits to textile and garment enterprises with import-export activities such as: Deferred payment letters of credit paid before maturity; Discounting of bills of exchange with export documents; Financing for export contract performance...

Green transition towards sustainable development is an inevitable trend for Vietnamese textile and garment enterprises to meet the "green standards" of the international market and increase the export of goods. Accordingly, in addition to preferential policies from BIDV, meeting green criteria will help enterprises increase their ability to access future capital from investors and international financial institutions interested in green projects.

Sustainable growth and promoting green growth are among BIDV's strategic business goals for the 2021-2025 period and vision to 2030. Therefore, in addition to loans for textile and garment enterprises, BIDV has provided many preferential credit packages in green sectors such as renewable energy, clean energy, low-carbon production and consumption industries, and climate change adaptation, thereby contributing to the transformation of the economy towards green growth. BIDV is committed to creating the most favorable conditions for consulting and helping customers access sustainable financial products.

For more details about the promotion program, please contact the nearest BIDV branch or Customer Care hotline.

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