Übersicht
The Framework Loan with Techcombank will support climate action and environmental (CA&ES) sustainability in Viet Nam.
The aim is to finance CA&ES projects across the country.
The operation consists of a multisector Framework Loan (FL) to Techcombank, targeting exclusively eligible projects for Climate Action and Environmental Sustainability (CA&ES) in renewable energy, energy efficiency and sustainable transport (e-mobility). EIB's involvement will enable Techcombank to access affordable long-term funding, strengthen its balance sheet, and offer competitive long-term climate financing to its clients, encouraging private sector investment in CA&ES projects.
Techcombank is one of the leading commercial banks in Vietnam. The bank is actively integrating global ESG standards into its operations and provides a range of financial solutions to support businesses and individuals transition towards a green economy.
This operation fully aligns with the European Commission's Global Gateway strategy, the European Green Deal, the Circular Economy Action Plan, and the priority for sustainable growth and jobs. It matches EU policy priorities for Vietnam under the Priority Area 1 objective of the Multiannual Indicative Programme 2021-2027, particularly the "Greener, smart, and more efficient energy consumption and production" subheading, and will be implemented through the Team Europe Initiative on "Climate-resilient, low-carbon circular economy." The operation will contribute to several SDGs, facilitate Vietnam's Just Energy Transition Partnership towards a green, carbon-neutral economy by 2050, support the adoption of electric vehicles (EVs), and build new renewable energy capacity to meet strong electricity demand.
Additionally, it could address environmental externalities by increasing renewable energy in Vietnam's mix, facilitating EVs uptake, and improving energy efficiency. Supporting Vietnam's energy transition can positively influence other financiers, increasing available funding for significant energy transition investments.
Techcombank will be required to ensure compliance of the eligible investments with the EIB's Excluded Activities, the EIB's Environmental and Social Standards (E&S), as well as the E&S national laws and regulations.
Techcombank will take all the requisite measures to ensure that the procurement by the final beneficiaries of the works, goods and services relating to the projects financed by the EIB will be undertaken in accordance with the applicable national legal framework, as well as with the EIB's Guide to Procurement.