The Asian Infrastructure Investment Bank (AIIB) has signed a $75 million financing agreement to support green and blue bonds that will be issued by Southeast Asia Commercial Joint Stock Bank (SeABank). This will be the first blue bond issued from Vietnam and also AIIB’s first investment in a blue bond.
This project aims to strengthen SeABank’s capital base to expand financing for sustainable economic activities related to water and the sea. It will also increase green assets such as green buildings, renewable energy, and energy efficiency.
AIIB and IFC (another investor) supporting SeABank in this green and blue bonds project, have committed up to $150 million while advising SeABank on the issuance, application of related frameworks, and pipeline development.
SeABank prioritises international best practices in environmental and social risk management, effectively implementing financial inclusion projects for small and medium enterprises and women-owned enterprises, as well as green finance projects and climate change mitigation. This approach has garnered trust and continuous investments from various international financial institutions, totaling nearly $850 million.
Gregory Liu, AIIB Director General of Financial Institutions and Funds, Global said, “AIIB is very pleased to work with SeABank and IFC in this innovative transaction that will supplement ongoing measures to reduce greenhouse gas emissions and contribute to thematic capital market development. We look forward to seeing more issuances from other Vietnamese financial institutions.”