The OPEC Fund for International Development has provided a US$50 million loan to Southeast Asia Commercial Joint Stock Bank (SeABank) to increase financing for small businesses and climate-focused investments across Viet Nam. The loan will help SeABank expand lending to micro, small and medium-sized enterprises (MSMEs), which account for approximately half of employment in the country but continue to face a substantial financing gap. Part of the funding will also support investments in energy efficiency, green buildings, rooftop solar, and electric mobility.
OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of small businesses to Viet Nam's economy, stating: "Small businesses are central to Viet Nam's economy and an important source of jobs and growth. This financing will help more companies access the capital they need to invest and expand, while supporting practical climate solutions that can strengthen competitiveness and resilience." The new loan strengthens the partnership between SeABank and the OPEC Fund, which began in 2022 with a first loan supporting local SMEs, including women-owned businesses, as well as climate projects.
Le Thu Thuy, SeABank's Vice Chairwoman of the Board of Directors, noted: "This financing marks an important milestone in our partnership with the OPEC Fund, reinforcing SeABank's commitment to inclusive and sustainable growth. It also advances our role as a financial intermediary in mobilizing and channeling international capital to support Viet Nam's sustainable development priorities." The announcement underscores the growing importance of climate finance in Viet Nam, where the government has set ambitious targets for renewable energy and emissions reduction. By targeting both MSMEs and green projects, the loan addresses two critical areas: economic inclusion and environmental sustainability.
The partnership between SeABank and the OPEC Fund highlights the role of international financial institutions in supporting Viet Nam's transition to a greener economy. For more information, visit SeABank.
