BAKU, Azerbaijan, March 13. The European Investment Bank (EIB) and the State Bank of Vietnam (SBV) have agreed to enhance cooperation on sustainable finance through technical assistance under the EIB’s Greening Financial Systems (GFS) program, Trend reports.
This initiative will support Vietnam in strengthening climate risk management, expanding green finance, and attracting investment.
Funded by the German Ministry for Economic Affairs and Climate Action (BMWK), the GFS program helps financial institutions integrate climate risk into regulatory frameworks and promote sustainable investment. The partnership aims to improve Vietnam’s financial sector’s ability to support climate initiatives, aligning with the country’s Just Energy Transition Partnership (JETP).
EIB Vice-President Nicola Beer emphasized the role of green finance in unlocking investment opportunities for renewable energy, clean transport, and resilient infrastructure. SBV Deputy Governor Nguyen Ngoc Canh highlighted the program’s importance in enhancing climate finance policies and mobilizing private sector investment.
EIB Global has been supporting Vietnam since 1997, providing over 561 million euros for sustainable projects. As part of its expanding engagement, the EIB plans to establish a 500 million euro framework loan with Vietnam’s Ministry of Finance to support JETP implementation, focusing on renewable energy and sustainable transport.