In order to support textile and garment enterprises in the process of green transition towards sustainable development, BIDV has deployed a green credit package of VND 4,200 billion with attractive incentives on interest rates, collateral policies and exchange rates. The program is implemented until June 30, 2024 or until all budget is disbursed.

Accordingly, textile and garment enterprises eligible to participate in the program will be supported with short-term loans and long-term loans with competitive interest rates to accelerate the green transition process towards sustainable development. At the same time, businesses also enjoy incentives on collateral policies and preferential exchange rates of up to 170 points for foreign currency transactions on BIDV iBank.

Specifically, short-term green loans are loans for textile and garment businesses that have plans to produce and trade standard, certified or sustainable labeled textile products (global recycling standard - GRS; sustainable cotton label - BCI; C2 sustainable product certification; standard of no discharge of hazardous chemicals - ZDHC; etc.). Medium and long-term green loans are loans intended to finance green construction/renovation projects, equipment replacement and upgrading towards efficient energy use, such as thermal power systems, byproduct recovery and utilization systems, waste treatment systems, etc.

In addition, businesses will also be consulted on the use of comprehensive financial solutions, supporting the enhancement of business efficiency such as  trade finance, guarantees, cash flow management, international money transfers, etc., especially products and services that bring many benefits to textile and garment enterprises engaged in import-export activities such as Deferred LC paid before maturity; Negotiation of export documents; Finance of export contracts performance, etc.

Green transition towards sustainable development is an inevitable trend for Vietnamese textile and garment enterprises to meet the "green standards" of the international market and increase export of goods. Accordingly, in addition to preferential policies from BIDV, meeting green criteria will enable businesses increase their future opportunities to access capital from investors and international financial institutions interested in green projects.

Sustainable growth and promoting green growth is one of BIDV's strategic business goals for the period 2021-2025 and vision to 2030. Therefore, in addition to loans for textile and garment enterprises, BIDV has offered many preferential credit packages in green fields such as renewable energy, clean energy, low-carbon production and consumption industries, and climate change adaptation, thereby contributing to transforming the economy towards green growth. BIDV is committed to creating the most favorable conditions to advise and help customers access sustainable financial products.

For more details about the promotional program, please contact the nearest BIDV branch or Customer Care hotline 1900 9247.

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