VOV.VN - The OPEC Fund for International Development (OPEC Fund) has extended a US$50-million loan to Southeast Asia Commercial Joint Stock Bank (SeABank) to expand financing for micro, small and medium-sized enterprises (MSMEs) and support climate-focused projects in Vietnam.
Under the signed document, SeABank will channel the funding to MSMEs, which play a vital role in the Vietnamese economy but continue to face challenges in accessing finance. Part of the loan will also support projects related to energy efficiency, green buildings, rooftop solar power and electric mobility.
OPEC Fund President Abdulhamid Alkhalifa said small businesses are a key driver of job creation and economic growth in Vietnam. He expressed confidence that the financing would help enterprises expand their operations while accelerating investments in climate action and sustainable development.
The latest loan builds on the partnership between the OPEC Fund and SeABank established in 2022, which focuses on financing for SMEs, including women-led businesses, as well as climate-related projects.
SeABank Vice Chairwoman Le Thu Thuy shared that the financing marked an important milestone in the bank's partnership with the OPEC Fund and reinforced its commitment to inclusive and sustainable growth. It also strengthened SeABank's role as a financial intermediary in mobilising and channeling international capital to support Vietnam's sustainable development priorities.
Founded in 1994, SeABank serves more than four million customers through 181 transaction points nationwide. The bank has charter capital of VND34.288 trillion (US$1.32 billion) and is pursuing a digital transformation strategy aimed at strengthening its retail banking operations.
Established in 1976, the OPEC Fund has committed more than US$32 billion to development projects in over 125 countries, with a combined value exceeding US$240 billion.
The International Finance Corporation (IFC) is providing a US$150-million financing package to Southeast Asia Commercial Joint Stock Bank (SeABank) to boost a viable blue finance market, foster green bonds, and support smaller businesses.
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