BIDV - The first commercial joint stock bank in Vietnam to become a recognized organization of the Green Climate Fund (GCF)

Notably, BIDV is the first commercial bank in Vietnam to be recognized by the GCF as a partner with direct access to the Fund's concessional funding to implement climate finance projects in Vietnam.

BIDV officially submitted its application to become a GCF accredited organization in 2023. Over the past two years, BIDV has completed its documentation demonstrating its capabilities and participated in bilateral working programs with the GCF within the framework of international forums such as the GCF Asia- Pacific Regional Dialogue (2023), the COP28 Conference in Dubai (2023), and the P4G Summit in Hanoi (2024).

Simultaneously, the GCF also conducted an in-depth assessment program to survey BIDV's governance capacity and sustainable finance implementation. Through the assessment rounds, BIDV not only demonstrated appropriate governance capabilities but also showed a strong commitment to climate finance, meeting the stringent standards of the GCF. At the 43rd meeting of the Green Climate Fund, the GCF Council officially recognized BIDV as a GCF accredited organization.

Speaking at the event, Ms. Achala Abeysinghe, Director of Investment Services, GCF, said: “We are delighted to welcome the Vietnam Investment and Development Bank (BIDV) as an accredited Institution of the Green Climate Fund (GCF). This new partnership strengthens GCF’s commitment to collaborating with leading national banks and opens up many opportunities to expand access to climate finance in Vietnam.”

As a leading bank in promoting sustainable growth, BIDV identifies Green Growth as one of the three strategic pillars of its "BIG, STRONG, GREEN" development strategy. BIDV clearly defines its Green transformation strategy across three aspects, demonstrating its role as a leading financial institution in Vietnam: (i) Leading in mobilizing and supplying capital for Green transformation, and in leading and creating Green transformation; (ii) Pioneering in the process of greening, saving energy and resources, and reducing internal emissions; and (iii) Leading and promoting the Green transformation process of its customers and partners.

By mobilizing preferential green financing from the GCF, BIDV can provide loans with favorable interest rates for projects aimed at reducing emissions and adapting to climate change. This is a promising start, ushering in a new era for BIDV in implementing sustainable finance and replicating ESG practices according to international standards, actively contributing to the fulfillment of the country's green growth and sustainable development goals.

Mr. Le Ngoc Lam, General Director of BIDV, stated: “Becoming a Green Climate Fund (GCF) accredited organization marks a significant milestone in BIDV's sustainable development journey. As a GCF accredited organization, BIDV will have access to preferential capital to finance renewable energy projects, enhance climate change resilience, encourage green innovation in Vietnam, promote equitable transformation in industries, and contribute to improving the lives of vulnerable communities.”

BIDV's efforts in implementing sustainable finance have initially yielded remarkable results. As of September 30, 2025, BIDV's Green credit outstanding reached over VND 81,000 billion, financing 1,623 customers and 2,143 projects/business plans, accounting for 3.7% of BIDV's total outstanding loans. This result not only reflects BIDV's strong commitment to sustainable finance but also marks its mark on the market with an increasingly rich and effective ecosystem of sustainable financial products. With a leading market share in green credit in Vietnam, BIDV has sufficient potential to effectively support the implementation of GCF's mission and climate goals in Vietnam.

The Green Climate Fund (GCF) is the world's largest climate finance fund established under the Paris Agreement, tasked with supporting developing countries to mobilize and realize their Nationally Determined Contributions (NDCs), towards a low-emission and climate-resilient development model. To date, the Fund has received a total commitment of 30 billion USD from 51 member countries, of which Vietnam pledged 1 million USD at the COP21 Conference in 2015 and will make its contribution in 2020.
GCF implements its activities through cooperation with a diverse network of accredited Organizations, including government agencies, multilateral financial organizations and Institutions such as World Bank, IFC, UNDP, ADB, EIB, AFD… and banks such as HSBC, Deutsche Bank, KDB, MUFG, SMBC…

Source: https://baodautu.vn/bidv---ngan-hang-tmcp-tai-viet-nam-dau-tien-tro-thanh-to-chuc-duoc-cong-nhan-cua-quy-khi-hau-xanh-gcf-d425752.html