Proparco and HDBank partner for sustainable development.

HDBank and Proparco have made significant progress in expanding their cooperation.

This new funding brings the total amount Proparco has provided to HDBank to date to $100 million. This demonstrates Proparco's trust and commitment to accompanying HDBank on its journey towards sustainable development.

HDBank - a bridge between Vietnamese businesses and Proparco

The funding provided by Proparco to HDBank is intended to finance/refinance climate finance projects and support women-owned businesses that meet the standards of the 2X Challenge Program – a global initiative to promote gender equality and sustainable development.

Previously, HDBank and Proparco had made significant progress in expanding their cooperation. In August 2021, Proparco granted HDBank its first $50 million credit facility with a 5-year term, enabling the bank to finance renewable energy projects in Vietnam.

Currently, HDBank is acting as a bridge between Vietnamese businesses and Proparco, offering potential for cooperation to contribute to the achievement of sustainable development goals globally.

Along with several other international financial institutions, Proparco has made positive contributions to the development and improvement of HDBank's Environmental and Social Risk Management System.

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Strengthening support for renewable energy projects, climate finance, and promoting gender equality with Proparco is an important and necessary step that helps HDBank continuously expand cooperation with major financial institutions worldwide , especially in the field of green finance.

Commitment to effectively implement ESG in accordance with international standards.

This credit agreement with Proparco is not only about funding but also affirms HDBank's strong commitment to effectively implementing ESG (environmental, social, and governance) standards in accordance with international norms.

In Vietnam, HDBank is the first commercial bank to pioneer the release of its own sustainable development report in 2024.

HDBank is also the first commercial bank to establish an ESG Committee under its Board of Directors to directly lead and supervise the implementation of sustainable development goals and initiatives.

With its positive contributions to the field of green credit and sustainable development, HDBank has received recognition and high praise from many international organizations over the years.

Specifically, HDBank is the first member bank of the Asian Development Bank (ADB) to receive the "Green Deal Award"; and the "Best Green Financing in Vietnam" award from The Asian Banker Vietnam Excellence Awards.

Most recently, for the second consecutive year, ADB honored HDBank as the "Leading Partner Bank in Vietnam" in its Trade Finance and Supply Chain Program (TSCFP).

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Proparco is a development finance institution under the French Development Agency (Agence Française de Développement - AFD).

For over 40 years, Proparco has supported private sector development through loan financing, direct investment, and advisory services to private businesses and financial institutions across Africa, Asia, Latin America, and the Middle East.

Proparco's activities focus on key development areas including infrastructure, renewable energy, agriculture, financial institutions, healthcare, and education.

Source: https://tuoitre.vn/proparco-va-hdbank-dong-hanh-phat-trien-ben-vung-20240919090014204.htm