AIIB Boosts SeABank with $75 Million Investment in Green and Blue Bonds
July 4, 2024, 9:34 pm
Location: United States, District of Columbia, Washington
Employees: 201-500
Founded date: 2019
Location: Philippines, Metro Manila, Pasig
Employees: 1001-5000
Founded date: 1966
Total raised: $140M
Location: Vietnam, Ha Noi, Hanoi
Employees: 1001-5000
Founded date: 1994
Total raised: $150M
HANOI, Vietnam - The Asian Infrastructure Investment Bank (AIIB) has injected $75 million into the green and blue bonds of Southeast Asia Commercial Joint Stock Bank (SeABank). This move aims to fortify SeABank's financial foundation, enabling it to fund sustainable ventures related to the sea and water, and bolster green assets like eco-friendly buildings, renewable energy, and energy efficiency.
Vietnam's commitment to climate action is underscored by the importance of securing funds from financial institutions to support environmental goals. AIIB, in collaboration with SeABank and the International Finance Corporation (IFC), is thrilled about this groundbreaking investment, which aligns with efforts to curb greenhouse gas emissions and advance thematic capital market growth.
SeABank, dedicated to sustainability, is gearing up to issue Vietnam's first blue bond and the country's inaugural green bond by a private commercial bank. The bank anticipates that partnerships with financial entities such as AIIB and IFC will provide the necessary capital to drive green lending and sustainable strategies tied to the green and blue economy.
IFC, SeABank's strategic partner in sustainable projects, facilitated the investment alongside the Australian government. In a previous financing round at the end of June, IFC extended a $150 million funding package, including contributions to SeABank's blue and green bonds.
In a united front to bolster Vietnam's sustainable economy, AIIB and IFC are jointly investing $150 million in SeABank's green and blue bonds. Additionally, IFC will offer guidance to SeABank on bond issuance, framework application, and pipeline development.
SeABank's steadfast commitment to sustainable development is evident through its focus on environmental and social risk management, financial inclusion initiatives, and green finance projects. This dedication has attracted investments from prominent international financial institutions like the Development Finance Corporation (DFC), IFC, and the Asian Development Bank (ADB), totaling approximately $850 million.
Vietnam's commitment to climate action is underscored by the importance of securing funds from financial institutions to support environmental goals. AIIB, in collaboration with SeABank and the International Finance Corporation (IFC), is thrilled about this groundbreaking investment, which aligns with efforts to curb greenhouse gas emissions and advance thematic capital market growth.
SeABank, dedicated to sustainability, is gearing up to issue Vietnam's first blue bond and the country's inaugural green bond by a private commercial bank. The bank anticipates that partnerships with financial entities such as AIIB and IFC will provide the necessary capital to drive green lending and sustainable strategies tied to the green and blue economy.
IFC, SeABank's strategic partner in sustainable projects, facilitated the investment alongside the Australian government. In a previous financing round at the end of June, IFC extended a $150 million funding package, including contributions to SeABank's blue and green bonds.
In a united front to bolster Vietnam's sustainable economy, AIIB and IFC are jointly investing $150 million in SeABank's green and blue bonds. Additionally, IFC will offer guidance to SeABank on bond issuance, framework application, and pipeline development.
SeABank's steadfast commitment to sustainable development is evident through its focus on environmental and social risk management, financial inclusion initiatives, and green finance projects. This dedication has attracted investments from prominent international financial institutions like the Development Finance Corporation (DFC), IFC, and the Asian Development Bank (ADB), totaling approximately $850 million.