Bank representatives proposed many financial solutions to promote trade finance for the goal of combating climate change at the forum "Trade Finance 2024".
The "Trade Finance 2024" Forum, co-organized by the Asian Development Bank (ADB) and the World Trade Organization (WTO), took place at ADB headquarters (Malina, Philippines) on March 20. Representatives of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) were invited to participate and share their opinions at the event.
The forum focused on discussing resource mobilization and trade finance orientation to support the transition of the economy towards green and sustainable, towards the goal of Net-Zero. Discussing at the event, Ms. Pham Minh Chau - Deputy Director of BIDV Wholesale Product Policy Department, shared the bank's successful experience and proposed many financial solutions to promote trade finance for the goal of combating climate change. Specifically, such as promoting international cooperation, sharing knowledge on developing trade finance products and green supply chain finance; digitizing the trade finance journey; researching and building a roadmap for implementing ESG risk management in credit activities in general and trade finance in particular... BIDV's solutions received the attention of speakers and experts.
BIDV representative participated in the discussion at the forum "Trade Finance 2024". Photo: ADB
In Vietnam, BIDV is a commercial bank with positive results in promoting sustainable development. The bank has clearly identified its sustainable development perspective in its development strategy and long-term vision with the following methods: green governance - green action - green environment... The bank has proactively implemented many activities to promote sustainable development, signed a memorandum of understanding on comprehensive cooperation with the Ministry of Natural Resources and Environment to achieve strategic goals on environmental protection, climate change response, and promoting sustainable green finance in Vietnam. The bank has also issued a framework for environmental and social risk management in credit granting activities.
In addition, BIDV prioritizes credit capital and strengthens cooperation with international organizations to finance green projects and sustainable development projects. As of December 31, 2023, BIDV has financed 1,738 green projects with a total outstanding loan balance of USD 3.03 billion, accounting for 4.25% of total outstanding loans and is the market leader in financing green projects.
BIDV is the largest partner bank of ADB in Vietnam in the field of trade finance and supply chain finance with a limit of 290 million USD. In recent times, the bank has implemented working programs and exchanges with ADB to promote cooperation between the two sides, especially within the framework of the Trade Finance and Supply Chain Finance Program (TSCFP). With positive results in the cooperation, the bank has been honored by ADB many times as "Leading Partner Bank in Vietnam".
Previously, at the "Workshop on Trade Finance Products for Partner Banks in Laos" organized by ADB and the Lao Bankers Association in Vientiane, Laos, BIDV representatives also attended and spoke.
Hai My
Source: https://vnexpress.net/bidv-de-xuat-giai-phap-tai-chinh-thuc-day-phat-trien-ben-vung-4726339.html
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