The banking sector plays a crucial role in the national strategy for green growth for the period 2021-2030, with a vision to 2050. As one of the leading financial institutions in Vietnam, BIDV understands its responsibility to work alongside the Government in fulfilling its commitments to combating climate change.
Anticipating the "greening" trend, BIDV is currently applying international standards to build a green bank, notably by developing products that promote sustainable development. In its lending activities, as of March 31, 2024, BIDV is one of the largest green credit providers in the market with a total outstanding loan balance of VND 73,394 billion, accounting for 4% of BIDV's total outstanding loans, covering 2,069 green projects/plans for 1,698 customers.
In its fundraising activities, building on the success of the 2023 Green Bond issuance, BIDV launched the Green Deposit product in June 2024 to raise resources for emission reduction and environmental protection projects. With the Green Deposit product, BIDV commits to using all funds raised to finance green projects (renewable energy, clean energy, and green buildings), contributing to environmental protection and promoting awareness of sustainable development in the community.
Since its launch, Green Deposit has received significant interest from many domestic and foreign businesses. Green Deposit offers flexible deposit terms from 6 months onwards. Businesses using Green Deposit will be issued a certificate by BIDV, and BIDV will also transparently disclose projects using capital raised from this product on the bank's official website (www.bidv.com.vn).
The successful mobilization of 5 trillion VND in just over two months of implementation is clear evidence of the strategic vision for sustainable development of the participating businesses. The image and standing of businesses committed to environmental responsibility are also enhanced, opening up many new opportunities for cooperation and development.
The success of Green Deposits further affirms BIDV's pioneering position in sustainable development and is a positive sign of concrete actions by businesses towards the environment and sustainable development goals. Besides being a safe investment channel that increases value, green financial products in general, and Green Deposits in particular, also help maximize resources to serve projects that benefit the community and society.
Source: https://www.congluan.vn/bidv-huy-dong-thanh-cong-5000-ty-dong-tien-gui-xanh-post310124.html
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