The banks will provide funds through the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) which will in turn provide subleasing loans, mainly to local businesses.

Illustrative photo.

By indirectly utilizing Vietcombank's credit information, the Japanese banks expect that high-risk loans can be provided swiftly, Nikkei Asia said.

In January, JBIC issued a joint statement related to the Vietnam Climate Finance Framework, which aims to promote Vietnam's decarbonisation in partnership with US and Australian government financial institutions and others. This co-financing by the four Japanese banks is JBIC's first project under this framework.

Vietnam has set a goal of achieving net-zero carbon emissions by 2050. Expanding the introduction of renewable energy is considered a key to reaching the target.

Vietnam Electricity, European Investment Bank ink MoU on sustainable energy development

Vietnam Electricity (EVN) and the European Investment Bank (EIB) have signed a memorandum of understanding to create a prerequisite for the EIB to help with the Vietnamese group’s sustainable development and energy transition.

Vietnam central bank raises cap on 2022 credit growth

Vietnam's central bank said on Monday it had raised its 14% cap on the local banking system's credit growth for this year by 1.5-2.0 percentage points.

Mobilized capital of Bac Giang commercial banks sharply increases

(BGO) – The total deposit mobilization of commercial banks in Bac Giang province has hit over 82 trillion VND (3.4 billion USD) for 11 months of this year, surging over 6.9 trillion VND against the figure at the end of last year.

Gunman robs $28,000 from northern Vietnam bank

A man was arrested Tuesday after robbing VND700 million (US$28,100) from a Vietinbank branch in northern Vietnam at gunpoint the previous afternoon.

Many commercial banks increases deposit interest rate

(BGO) – Implementing the direction from State Bank of Vietnam about adjusting the deposit interest rates, since October 28, many commercial banks in Bac Giang province have increased the deposit interest rate of organizations and individuals.

Source: VNA