SBV to divert more credits to eco-friendly projectsThe State Bank of Vietnam (SBV) has issued Decision No.1604/QD-NHNN, approving a scheme on developing green banks in the country by using credit to back eco-friendly projects, with the aim of raising awareness of local banks on the social responsibility in fighting climate change, reported the local media. SBV to divert credit fund to eco-friendly projects. SBV will issue a list of green projects that use clean and renewable energy. In addition, all financial institutions should be able to evaluate the social and environmental risks and should apply environmental standards to green projects that obtain loans from banks. Commercial banks that lend a high proportion of green credit will be given priority when seeking preferential loans from international organizations or from SBV’s partners.

Source: VietNamNet News August 19, 2018 17:26 UTC