The Vietnam Maritime Commercial Joint Stock Bank (MSB) has launched a new green credit package of VND3 trillion ($121 million) with favorable interest rates for businesses looking to develop in a sustainable manner.

Interest rates in the package start at 4.3 per cent per annum on short-term loans and 6.8 per cent on medium and long-term loans.

Companies that meet the criteria will have the opportunity to receive support in the form of short-term and medium to long-term loans with competitive interest rates to accelerate the transition towards sustainable development and green growth.

Target beneficiaries are enterprises with investment projects in sectors such as energy, water resources, waste management, construction, manufacturing, and green transformation that meet the criteria as green projects.

In addition, companies with projects or business plans in sectors certified as green or sustainable in key economic sectors in Vietnam, such as textiles, seafood, and agriculture and forestry, are also prioritized.