HCMC – The International Finance Corporation (IFC), under the World Bank Group, has increased its long-term investments in Vietnam during the past fiscal year, with a strong emphasis on climate finance.
IFC’s commitments in Vietnam exceeded US$1.6 billion in fiscal year 2024 (ending June 30), with over US$750 million allocated to long-term financing.
These investments aim to support Vietnam’s shift to a low-carbon economy while enhancing private sector resilience and competitiveness.
A record-breaking US$310 million of new long-term financing was directed towards projects addressing climate change and reducing marine plastic waste, making Vietnam the top recipient of IFC’s climate finance in the East Asia and Pacific region.
Beyond climate initiatives, IFC’s programs also tackled broader development challenges, including food security, trade facilitation, and manufacturing competitiveness.
In support of these goals, IFC provided Vietnamese companies with US$896 million in short-term trade and supply chain financing, aiding in the expansion of trade flows, business growth, and job creation.
Additionally, in partnership with various stakeholders, IFC has been instrumental in developing a green taxonomy for Vietnam and in supporting the State Bank of Vietnam’s environmental risk management regulations.
These efforts aim to establish fair standards for banks and strengthen their ability to mitigate environmental and climate-related financial risks.
