Vietnam’s SeABank (Southeast Asia Commercial Joint Stock Bank) has secured an $80 million loan from two European financial institutions, Proparco (France’s Development Finance Institution) and FMO (the Dutch Entrepreneurial Development Bank). Each organisation will contribute $40 million to strengthen the bank’s financial capacity and support economic growth in Vietnam.
The loan agreement, announced in Hanoi, aims to improve financial access for small and medium-sized enterprises (SMEs) and women-owned businesses, as well as enhance SeABank’s capacity in environmental and social (E&S) risk management and climate change mitigation.
Commitment to financial inclusion
SeABank’s Chairman, Le Van Tan, reaffirmed the bank’s commitment to financial inclusion and equal access to funding.
“The investment aligns with SeABank’s sustainability strategy and strengthens our ability to offer effective financial solutions that support SMEs, women entrepreneurs, and climate action,” he said.
The partnership marks the beginning of a broader collaboration aimed at driving economic growth and financial inclusion in Vietnam.
France and the Netherlands pledge support
The loan agreement was welcomed by both the French and Dutch governments, highlighting its alignment with their broader development goals in Vietnam.
French Ambassador to Vietnam, Olivier Brochet, praised Proparco’s continued involvement in Vietnam, linking it to the newly elevated Vietnam-France Comprehensive Strategic Partnership.
“This cooperation aligns with our strategic direction and the commitments made at the G7 Summit 2024, particularly in supporting SMEs, women entrepreneurs, and ecosystem protection,” he said.
Meanwhile, Dutch Ambassador to Vietnam, Kees van Baar, highlighted the Netherlands’ role as Vietnam’s largest European investor and trading partner. He noted the shared priorities in water resources management and SME development, adding that SeABank’s strategic vision and international reputation made it an ideal partner for FMO.
“SeABank has a clear focus on private enterprises, SMEs, and women-led businesses,” Mr Van Baar said. “I believe this partnership will create more opportunities for FMO, Dutch enterprises, and SeABank’s network of partners.”
Strengthening international financial ties
With this latest loan, SeABank’s total international financing has now reached nearly $1.1 billion. The bank has previously secured funding from major global institutions, including the US International Development Finance Corporation (DFC), the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank (AIIB), Norfund (Norway), and the OPEC Fund.
The continued trust from international financial institutions underscores SeABank’s strong reputation, operational efficiency, and commitment to sustainable finance.
By expanding its funding sources, SeABank aims to increase financial accessibility for Vietnam’s SMEs and women-led enterprises, helping them grow and contribute to the nation’s economy.
This latest loan agreement signals a growing recognition of Vietnam’s potential as a key investment destination for international development banks and financial institutions.