VN Central Bank approves project on green bank developmentThe State Bank of Vietnam (SBV) has recently issued Decision No.1604/QD-NHNN on approving a project on green bank development. The project aims to raise the banks’ awareness and social responsibility for environment protection and climate change prevention, gear capital flows into eco-friendly projects, and promote green production, services and consumption, towards boosting green growth and sustainable development. Accordingly, all banks will strive to issue regulations on environment and social risk control by 2025. At least 10 -12 banks will have specialised units on environment and social risk control while 60 percent of the banks will access loans used for green projects. The SBV will issue guidelines on developing green banks and credit, provide them with incentives such as preferential loans from international organisations and development partners.

Source: VietNamNet News August 20, 2018 02:26 UTC