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The Netherlands Enterprise Development Bank (FMO) and the Netherlands Fund for Climate and Development (DFCD) plan to finance Vietnam Maritime Commercial Joint Stock Bank (MSB) with 100 million USD for a term of up to 9 years, aiming to finance small and medium enterprises (SMEs) and green projects.
MSB and FMO have just signed a Letter of Intent on medium and long-term lending cooperation under the witness of the Prime Ministers of Vietnam and the Netherlands, representatives of ministries and branches of the two countries and about 300 businesses from both sides.
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MSB will receive 100 million USD from Dutch bank to lend for green projects |
With this cooperation, FMO and the Netherlands Fund for Climate and Development (DFCD) plan to provide 100 million USD in funding with a term of up to 9 years, aiming to finance small and medium enterprises (SMEs) and green projects.
To receive this funding, MSB must meet and commit to environmental and social (E&S) criteria, as well as the bank's orientation in increasing the importance of environmental and social factors in its operations.
MSB leaders said that signing a Letter of Intent on medium and long-term lending cooperation with FMO helps MSB have more resources to promote strategic business areas.
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