EIB Global, the development arm of the European Investment Bank (EIB), and Vietnam Technological and Commercial Joint Stock Bank (Techcombank) have announced a €200 million financing agreement to accelerate climate action and environmental sustainability projects across Vietnam.
“The long-term financing facility aims to bridge the financing gap for green initiatives, particularly within the private sector,” said the EIB.
“The agreement was unveiled during the EU-Vietnam Global Gateway Business and Investment Forum in Hanoi, in the presence of Prime Minister Pham Minh Chinh and European Commissioner for International Partnerships Jozef Síkela.
“The announcement was made by EIB Vice-President Nicola Beer and Vice Chairwoman of the Board at Techcombank Nguyễn Thu Lan.”
With this funding, Techcombank will expand lending for projects in areas including renewable energy, energy efficiency and sustainable transport. The operation will contribute to several sustainable development goals and support Vietnam’s Just Energy Transition Partnership towards a green, carbon-neutral economy by 2050.
Alongside the financing, the EIB Advisory will work with Techcombank to strengthen its climate risk management framework, improve climate-related disclosures and support the implementation of the operation. This advisory support will be provided through the Greening Financial Systems (GFS) programme, financed by Germany and Luxembourg.
EIB Vice-President Nicola Beer, who oversees the bank’s operations in Vienam, said: “Viet Nam has set ambitious goals for its energy transition and sustainable development. The European Investment Bank is supporting these efforts across sectors – from energy systems and sustainable transport to green finance with partners such as Techcombank, through which we support the private sector, including small and medium-sized enterprises.
“These investments will also deliver tangible benefits for people, including cleaner air, improved energy efficiency, better access to sustainable energy and new opportunities for jobs and economic growth. This cooperation reflects the European Union’s Global Gateway strategy and our shared commitment to supporting sustainable investment and the long-term development of Viet Nam.”
European Commissioner for International Partnerships Jozef Síkela said: “This agreement shows how our partnership with Viet Nam delivers on what matters most: sustaining economic growth while reducing pollution and expanding clean energy.
“Through this cooperation, we invest together with Vietnamese companies in renewable energy, improve energy efficiency and modernise transport. This is how Global Gateway turns partnership into practical results: jobs, stronger growth and a cleaner energy system for the future.”
Techcombank Vice Chairwoman of the Board Nguyen Thu Lan said: “We value the opportunity to partner with the European Investment Bank following its rigorous appraisal process, which underscores Techcombank’s solid financial standing.
“The facility will strengthen our ability to expand climate-aligned lending, support our clients in their transition to lower-carbon business models, and accelerate investment in sustainable infrastructure. By integrating climate finance into our banking strategy, we reinforce our commitment to long-term, responsible growth that creates value for the economy, society and the environment.”