BIDV Highlights
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Mr. Le Ngoc Lam, CEO of BIDV (left) and Mr. Fabrice Richy, Director of AFD Vietnam represent the two sides to sign the agreement
BIDV inks pact with AFD to support energy projects On 26 May 2021, BIDV and the French Development Agency (AFD) signed a credit facility agreement of USD100 million aiming at promoting green investments, focused on renewable energy and energy efficiency sectors.
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ccordingly, AFD will grant a long-term USD100 million concessional credit line facility to BIDV as well as providing technical assistance of EUR300,000 to BIDV and its customers. One of the leading financial institutions in Vietnam, BIDV has long experience in managing foreign entrusted funds and providing modern and comprehensive banking products and services for customers, contributing to effective realisation of the target set by donors and the government of Vietnam. In recent years, BIDV has been trusted and selected by the Government, ministries and donors to relend and serve key and large foreign entrusted funds. In particular, for AFD funds, BIDV has been trusted to implement a number of projects such as the Northern Power Transmission Project worth EUR40
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million; housing development program in flood-prone areas in the Mekong Delta worth EUR25 million, among others. Mr. Le Ngoc Lam, Chief Executive Officer of BIDV stated: “The signing of the USD100 million SUNREF Green Credit Line Agreement marks an important milestone in the cooperation between BIDV and AFD, which shall be a step forward and pave the way to new partnership opportunities between parties in all development investment sectors. It reaffirms the fact that application of international standards on the green credit will help BIDV improve its operational efficiency and control strictly credit risks. BIDV is willing to establish partnership with international donors in promoting Vietnam's sustainable economic development”. Mr Fabrice Richy, Director of AFD Vietnam said: “This credit line to BIDV
