HANOI, Vietnam, July 1, 2024
/PRNewswire/ -- Asian Infrastructure Investment Bank (AIIB)
provides an investment of US$75
million to the green and blue bonds issued by Southeast Asia
Commercial Joint Stock Bank (SeABank, stock code: SSB).
AIIB's US$75 million investment in
SeABank's green and blue bond project is expected to further
strengthen the Bank's strong capital base to expand financing for
sustainable economic activities linked to the sea and water, and
grow green assets such as green buildings, renewable energy and
energy efficiency.
"Viet Nam's Nationally
Determined Contribution lays emphasis on the importance of resource
mobilization from financial and international credit institutions
to support climate mitigation and adaptation ambitions. AIIB is
very pleased to work together with SeABank and IFC in this
innovative transaction, which will supplement the on-going measures
to reduce greenhouse gas emissions and contribute to the thematic
capital market development," said Gregory Liu, AIIB Director General of Financial
Institutions and Funds, Global. "We look forward to seeing
more issuances from other Vietnamese financial institutions in
future."
Following SeABank's sustainable commitment, one of our
priorities in the current period is to issue the first blue bond in
Vietnam and to issue the first
green bond by a private commercial bank in the country. We hope the
partnerships with financial institutions such as AIIB and IFC could
supplement SeABank with capital sources to foster green credit and
sustainable strategies associated with green and blue economy"
– said Le Thu Thuy, Vice
Chairwoman of the BOD, SeABank.
The investment was mobilized by the co-investor introduction of
IFC – SeABank's strategic partner in terms of sustainable projects,
in partnership with the Australian government. Previously at the
end of June, IFC provided a US$150
million financing package which includes investments in
SeABank's blue and green bonds.
Sharing the same goal of promoting Vietnam's sustainable economy, together AIIB
and IFC are investing US$150 million
in SeABank's blue and green bonds. Further, IFC will advise SeABank
on the bond issuance, application of related frameworks, and
pipeline development.
With its sustainable development goal, in recent years, SeABank
has continuously prioritized application of E&S risk
management, implementation of financial inclusion and green finance
projects. As a result, the Bank has been entrusted with and has
received continuous investments from various international
financial institutions such as DFC, IFC and ADB with a total
capital of approximately US$850
million.
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