The Asian Infrastructure Investment Bank (AIIB) has signed a USD75 million financing agreement to support the issuance of green and blue bonds by the Southeast Asia Commercial Joint Stock Bank (SeABank) in Vietnam. The funding will enhance SeABank’s capital base for financing sustainable economic activities related to water and the sea, and to grow green assets such as green buildings, renewable energy (RE), and energy efficiency projects in the country.
The partnership with AIIB and the International Finance Corporation (IFC), which are jointly investing up to USD150 million, will provide advisory services on bond issuance and related frameworks. Further, SeABank has prioritised the application of international best practices in environmental and social risk management, as well as green finance projects and climate change mitigation efforts. This has attracted nearly USD850 million in investments from various international financial institutions.