Background

IBEC and VietinBank join forces to finance sustainable development

The International Bank for Economic Co-operation and one of the largest Vietnamese financial institutions VietinBank (the controlling stake belongs to the State Bank of Vietnam) signed a Memorandum of Understanding. Taking into account the new post-COVID reality, the signing took place via video conference. In Moscow, the document was signed by the Chairman of the IBEC Board Mr. Denis Ivanov, in Hanoi – by the Head of the Investment Banking, Treasury and Markets Group , Mr. Nguyen Anh Tuan. The Memorandum is aimed at contributing to the achievement of the UN Sustainable Development Goals, primarily in the field of environmental protection and the development of a "green" economy, responsible consumption and production, and combating climate change.

In accordance with the Memorandum, IBEC and VietinBank will develop cooperation to support and implement projects in areas such as renewable energy, low pollution energy, energy efficiency, green buildings, pollution prevention and control, sustainable use of water and waste, sustainable agriculture, land use, forestry, biodiversity conservation and ecotourism, ecological transport.

IBEC and VietinBank are already actively working together to select projects in the field of solar and wind generation in Vietnam. The signing of this Memorandum brings cooperation between the two banks in the environmental field to a qualitatively new level, and will allow for systematic work on the search, development and financing of "green" projects and programs.

“For IBEC as a development institution, the green economy is one of the strategic priorities. The signing of the Memorandum will intensify this work in the Vietnamese direction, which is important and interesting for us and our clients and partners, including those from other member states. I am confident that, together with such a serious, responsible and respected partner as VietinBank, we will make a significant contribution to solving environmental problems both in Vietnam and in a broader international aspect,” – Mr. Denis Ivanov said at the signing ceremony.

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