MSB receives $100 million in funding from Dutch bank | Finance | Finance

FMO was established in 1970, with the Dutch Government owning 51% of the shares. FMO supports sustainable private sector growth in developing and emerging markets through investments in businesses, projects and financial institutions.

FMO and the Netherlands Fund for Climate and Development (DFCD) plan to finance up to 100 million USD for MSB

Under this partnership, FMO and the Netherlands Fund for Climate and Development (DFCD) plan to provide up to USD 100 million in financing for a term of up to 9 years, aimed at financing small and medium-sized enterprises (SMEs) and green projects. FMO will also consider supporting MSB to improve and upgrade its environmental and social risk management system to meet higher international standards.

With technical support from international partners, MSB expects to promote the development of credit products, not only green credit but also credit products associated with "sustainability" criteria.

The funding demonstrates MSB's ability to meet and commit to environmental and social (E&S) criteria, as well as the Bank's orientation in enhancing the importance of environmental and social factors in its operations.

Regarding green credit, the bank aims to focus on areas such as renewable energy, climate change response, and low-carbon technology. MSB has integrated the environmental and social risk management process into the credit appraisal and approval process since June 1, 2023.

MSB representative said: "Signing the Letter of Intent on medium and long-term lending cooperation with FMO is an important milestone in MSB's operations, to have more resources to promote strategic business areas".

The cooperation with FMO once again affirms MSB's position in the market, an important step to help the bank get closer to international credit standards, especially green credit towards sustainable development.

Source: https://diaoc.nld.com.vn/tai-chinh-bds/msb-nhan-tai-tro-100-trieu-usd-tu-ngan-hang-ha-lan-20231106201708112.htm