BIDV allocates VND10,000 billion to finance green building projects

20/08/2024
This program is being implemented by the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) until December 31, 2025 and applies to businesses investing in "Green Building" projects.

According to World Green Building Council (WGBC), Green Buildings are facilities which are designed , constructed , or operated in the way to minimize adverse impacts and create positive impacts on our climate and environment. Green Buildings conserve precious natural resources and improve the quality of life.

The World Green Building Council (WGBC) defines a Green Building as a facility in the design, construction, or operation that minimizes adverse impacts and can create positive impacts on our climate and environment. Green Buildings conserve precious natural resources and improve the quality of life.

Based on the values that Green Buildings bring to our society and economy and the goal to accompany businesses in developing and investing with environmental responsibility , BIDV commits VND 10,000 billion to finance companies which build new or expand Green Buildings, renovate existing buildings into Green Buildings and achieve one of the prestigious certifications: LEED, LOTUS, EDGE, Green Mark.

The program is implemented nationwide. Participating in the program, businesses will enjoy preferential fundings for projects such as: preferential lending interest rates meeting diverse financing needs; being disbursed quickly and promptly; are advised by a team of experts and highly qualified staff in project financing. The program also helps businesses to enhance their Green reputation, demonstrating the responsibility towards the environment and society.

Following the success of the VND 4,200 billion Green Credit Package supporting textile and garment enterprises in the Green transition process, with this preferential funding program for Green Building projects, BIDV continues to affirm its pioneering role in implementing the policies of the Government and the State Bank on green growth, green credit, joining hands with enterprises to create a green economy and with the community towards sustainable development.

As of March 31, 2024, BIDV's Green credit outstanding reached VND 73,394 billion, accounting for 4% of total credit balance with 2,070projects/business plans of 1,700 customers. Green credit is identified as one of the top priority in BIDV’s long-term strategy. With the current Green loan balance, BIDV plans to continue to increase its outstanding loans and the proportion of Green credit annually and strive to maintain its position as one of the leading banks in terms of market share and Green portfolio.

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