The Asian Infrastructure Investment Bank (AIIB) has signed a USD 75 million financing contract to support the issuance of green and blue bonds by the Southeast Asia Commercial Joint Stock Bank (SeABank). This marks the first blue bond issuance from Vietnam and AIIB’s inaugural investment in a blue bond.
The project aims to bolster SeABank’s capital base, enabling it to expand financing for sustainable economic activities related to water and the sea. Additionally, the investment will help grow green assets, such as green buildings, renewable energy, and energy efficiency projects.
Vietnam, a founding member of AIIB, possesses extensive coastlines with significant potential for developing a blue economy, aligning well with SeABank’s investment goals. AIIB Director General of Financial Institutions and Funds, Gregory Liu, emphasized the importance of mobilizing resources from financial and international credit institutions to support climate mitigation and adaptation. “AIIB is very pleased to work with SeABank and IFC in this innovative transaction that will supplement ongoing measures to reduce greenhouse gas emissions and contribute to thematic capital market development,” Liu stated. “We look forward to seeing more issuances from other Vietnamese financial institutions.”
Le Thu Thuy, Vice Chairwoman of SeABank’s Board of Directors, highlighted the bank’s commitment to sustainability: “Following SeABank’s commitment to sustainability, one of our priorities is to issue the first blue bond in Vietnam and the first green bond by a private commercial bank in the country. We hope our partnerships with financial institutions such as AIIB and IFC will supplement SeABank’s capital sources to foster green credit and sustainable strategies associated with the green and blue economies.”
AIIB and the International Finance Corporation (IFC), the other parallel investor, are jointly supporting SeABank’s green and blue bond projects. Together, they have committed to invest up to USD 150 million in this initiative and will provide advisory services on the issuance of green and blue bonds, application of related frameworks, and pipeline development.
SeABank has consistently prioritized the application of international best practices in environmental and social risk management. The bank has effectively implemented financial inclusion projects for small and medium enterprises and women-owned enterprises, as well as green finance projects and climate change mitigation efforts. This commitment has attracted nearly USD 850 million in investments from various international financial institutions.
AIIB is dedicated to supporting SeABank’s efforts to expand partnerships and implement sustainable projects, creating positive socioeconomic and environmental impacts. This collaboration is expected to contribute significantly to Vietnam’s national goals of green transition and net-zero commitments
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