Mr. Tran Long shared some highlights of BIDV in this regard: (i) BIDV has a clear strategic vision on green credit, green banking development; (ii) BIDV has always prioritized financing green credit projects; (iii) BIDV strengthens cooperation with international organizations in sustainable development to support the deployment of green and sustainable funds in Vietnam; (iv) BIDV is the first domestic financial institution to cooperate with the Ministry of Natural Resources and Environment for specific solutions and actions to implement strategic goals on environmental protection and response to climate change, promoting green and sustainable financial development; (v) BIDV constantly improves institutional capacity and internal processes related to green credit; (vi) BIDV has taken various measures to contribute to improving the environment towards building a green bank.

Mr. Tran Long, BIDV’s Senior Executive Vice President, delivered a speech to share experiences on green credit at BIDV

As of 30 September 2022, BIDV has financed 1,210 green projects and customers, with credit commitments totaling more than VND 61,700 billion, making itself a market leader in green finance. Green credit balance is about VND49,000 billion, or 3.3% of total outstanding loans of BIDV. Green credit balance mainly focuses on renewable energy, including more than 800 renewable energy and clean energy projects with total credit amount of more than VND53,200 billion (~97% of green credit balance). For wind and solar power projects with loan size of over VND500 billion, in the 2020-2021 period, BIDV has financed 25 projects totaling VND23,400 billion (~ USD1 billion).

Mr. Tran Long also mentioned some difficulties and challenges in green credit and green banking development in Vietnam and offered some recommendations to the State Bank of Vietnam, the Ministry of Finance and relevant ministries, sectors to promote the development of this field.