2023-10-30 06:35:26
Hanoi (VNA) – Green credit and green banking play an important role in the successful implementation of the national growth strategy verde for the period 2021-2030, with a vision until 2050, according to Nguyen Quoc Hung, vice president and secretary of the Vietnam Banks Association.
Quoc Hung revealed that the banking sector has worked hard to achieve the objectives set by the government in the strategy.
The State Bank of Vietnam (SBV) has issued various credit documents in accordance with the objectives of environmental protection and reduction of carbon emissions, towards green growth, namely: Directive 03/CT-SBV of 24 March 2015 on promoting green credit growth and managing environmental and social risks in credit granting, together with the banking sector’s action plan to implement the strategy until 2020.
Most recently, the central bank issued Circular 17/2022/TT-NHNN dated December 23, 2022, which guides environmental risk management in lending by credit institutions and foreign banks in Vietnam, he continued.
Green credit and green banking play an important role in the successful implementation of the national green growth strategy for the period 2021-2030, with a vision until 2050. (Source: taphitaichinh.vn) “It can be said that the legal corridor in Vietnam has gradually been consolidated to facilitate green credit and banking,” confirmed Quoc Hung.
Credit institutions also pay attention to these efforts, he highlighted and pointed to data from the Credit Department for Economic Sectors of the SBV, according to which outstanding green credit loans reached 22.9 billion dollars as of June 30.
Meanwhile, Tran Anh Quy, head of Credit Policy at the Economic Sector Credit Department, revealed the lack of a national green list to serve as a basis for capital mobilization.
Furthermore, lending institutions have found it difficult to balance loans, as green projects need large investments and long payback periods, and face high risks, given limited support mechanisms and policies, he continued.
He emphasized that the SBV will continue with solutions and policies to promote the activities of the
bancos towards green growth, thus contributing to economic recovery./.
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