Bank representatives proposed many financial solutions to promote trade finance for the purpose 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), just took place at ADB headquarters (Malina, Philippines) on January 20. 3. Representatives of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) were invited to participate and share opinions at the event.
The forum focused on discussing resource mobilization and orienting trade finance activities to support the transition of the economy towards green and sustainable, towards the Net-Zero goal. Discussing at the event, Ms. Pham Minh Chau - Deputy Director of BIDV Wholesale Product Policy Department, shared the bank's successful experiences and proposed many financial solutions to promote trade finance for the target. combat climate change. Specifically, promoting international cooperation and sharing knowledge on developing trade finance products and green supply chain finance; digitizing the trade finance journey; research and develop 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 soon clearly defined the concept of sustainable development in its development strategy and long-term vision with the method: green governance - green actions - green environment... The bank proactively implemented many activities to promote development. sustainable development, signed a memorandum of understanding on comprehensive cooperation with the Ministry of Natural Resources and Environment to aim at implementing strategic goals on environmental protection, responding to climate change, and promoting green finance sustainability in Vietnam. The Bank 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. By December 31, 12, BIDV funded 2023 green projects with a total outstanding loan of 1.738 billion USD, accounting for 3,03% of total outstanding loans and is the market leader in financing green projects. .
BIDV is ADB's largest partner bank 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 carried out 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 cooperation, the bank has been honored by ADB many times as "The Leading Partner Bank in Vietnam".
Previously, at the "Seminar on trade finance products for partner banks in Laos" organized by ADB and the Lao Banks Association in Vientiane, Laos, BIDV representatives also attended and expressed their opinions. .
Hai My
