• The EUR200 million ($216.0 million) financing agreement between EIB Global and Techcombank was announced during the EU–Vietnam Global Gateway Business and Investment Forum in Hanoi.
• The financing will support green projects by private businesses in Vietnam, advancing the country’s Just Energy Transition Partnership (JETP).
• EIB Global will also work with Techcombank to strengthen climate risk management and support the bank’s sustainable finance activities.

The EIB Global, the development arm of the European Investment Bank (EIB), and Vietnam Technological and Commercial Joint Stock Bank (“Techcombank”) have announced a EUR200 million ($216.0 million) financing agreement to accelerate climate action and environmental sustainability projects across Vietnam.

The long-term financing facility aims to bridge the financing gap for green initiatives, particularly within the private sector. The agreement was unveiled during the EU–Vietnam Global Gateway Business and Investment Forum in Hanoi, in the presence of Deputy Prime Minister Ho Duc Phoc and European Commissioner for International Partnerships Jozef Síkela. The announcement was made by Nicola Beer, Vice-President of the European Investment Bank, and Nguyen Thu Lan, Vice Chairwoman of the Board at Techcombank.

With this funding, Techcombank will expand lending for projects including renewable energy, energy efficiency and sustainable transport. The operation will contribute to several Sustainable Development Goals and support Vietnam's Just Energy Transition Partnership towards a green, carbon-neutral economy by 2050.

Alongside the financing, the EIB Advisory will work with Techcombank to strengthen its climate risk management framework, improve climate-related disclosures and support the implementation of the operation. This advisory support will be provided through the Greening Financial Systems (GFS) programme, financed by Germany and Luxembourg.

EIB Vice-President Nicola Beer, who oversees the Bank’s operations in Vietnam, said: “Vietnam has set ambitious goals for its energy transition and sustainable development. The European Investment Bank is supporting these efforts across sectors – from energy systems and sustainable transport to green finance with partners such as Techcombank, through which we support the private sector, including small and medium-sized enterprises. These investments will also deliver tangible benefits for citizens, including cleaner air, improved energy efficiency, better access to sustainable energy and new opportunities for jobs and economic growth. This cooperation reflects the European Union’s Global Gateway strategy and our shared commitment to supporting sustainable investment and long-term development of Vietnam.”

European Commissioner for International Partnerships Jozef Síkela said: “This agreement shows how our partnership with Vietnam delivers on what matters most: sustaining economic growth while reducing pollution and expanding clean energy. Through this cooperation, we invest together with Vietnamese companies in renewable energy, improve energy efficiency and modernise transport. This is how Global Gateway turns partnership into practical results: jobs, stronger growth and a cleaner energy system for the future.”

Techcombank Vice Chairwoman of the Board Nguyen Thu Lan highlighted: “We value the opportunity to partner with the European Investment Bank following its rigorous appraisal process, which underscores Techcombank’s solid financial standing. By integrating climate finance into our banking strategy, we reinforce our commitment to long-term, responsible growth that creates value for the economy, society, and the environment.”

Building on this commitment, Chief Corporate Strategy and Transformation Officer Prasenjit Chakravarti added: “The EIB–Techcombank relationship is strategic in bringing long-duration capital and world-class ESG capabilities to Techcombank. This will have a positive impact on our ability to meet client needs and strategically position us as a leader in sustainable finance in Vietnam.”

Re-disseminated by The Asian Banker