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Proparco and HDBank develop their partnership to finance the energy transition in Vietnam
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As part of the visit to France of Vietnamese Prime Minister H.E. Phạm Minh Chính, Proparco and HDBank signed a Memorandum of Understanding to strengthen their existing collaboration in financing renewable energy projects in Vietnam.
Proparco granted in August 2021 a 5-year senior credit facility to HDBank for an amount of USD 50 million to help the bank finance renewable energy projects in Vietnam. Drawing on this satisfactory experience, HDBank and Proparco wish to strengthen their cooperation and start planning for a follow-up transaction of a further USD 50 million, to be closed in 2022, , bringing the total financing for HDBank up to USD 100 million.
In addition, Proparco would be interested in supporting HDBank in issuing Green Bonds to finance projects to finance projects contributing to the fight against climate change. Through the signing of the MOU, HDBank will play as a bridge between its corporate clients and Proparco and vice versa to explore any potential collaboration for the purpose of boosting sustainable development in Vietnam.
Being one of the pioneer bank in Vietnam in green credit, HDBank is strongly committed to boost economic development while minimizing environmental effects and climate change. Its collaboration with Proparco will move HDBank a step closer towards international standards on the green credit.