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Outstanding green loans exceed VND560 trillion

The Saigon Times

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HCMC – Vietnam’s outstanding green loans, primarily in the energy and agricultural sectors, surged to over VND564 trillion as of September 30, accounting for 4.4% of the total outstanding loans in the economy.

Pham Thi Thanh Tung, deputy general director of the Department of Credit for Economic Sectors at the State Bank of Vietnam (SBV), said renewable energy and green agriculture represented 45% and 30% of these loans, respectively.

These revelations were made during the “Lighting the path for green financing” conference held recently in Hanoi, organized by Dau tu Newspaper and the Vietnam Bank for Agriculture and Rural Development (Agribank).

Phung Thi Binh, Agribank’s deputy general director, said the bank has extended VND30 trillion in loans to clean agricultural and high-tech agriculture projects, adding that many large-scale agricultural production models employing high technology have been established nationwide.

Experts at the conference emphasized the necessity of reinforcing legislative frameworks and implementing policies to promote green industries, making them more attractive and efficient for green financing sources. They also advocated for Vietnam to explore foreign capital sources through bilateral cooperation and international financial institutions.

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