March 19, 2024 | 07:00 GMT+7

US Export Bank, Vietnam Development Bank Sign $500M Green Finance Deal

Ngoc Lan -

Memorandum of Understanding aims to boost US exports for infrastructure and climate adaptation projects in Vietnam.

Photo: EXIM
Photo: EXIM

Leaders of the Export-Import Bank of the United States (EXIM) and the Vietnam Development Bank (VDB) have signed a $500 million Memorandum of Understanding (MOU).

The agreement will support US exports to Vietnam, specifically targeting green infrastructure, climate adaptation, and broader green economy transitions.

“The MOU we signed demonstrates our shared commitment to strengthening the U.S.-Vietnam commercial relationship and dedication to creating opportunities that strengthen the economies of both our nations,” stated EXIM President and Chair Reta Jo Lewis. 

“We are excited to collaboratively seek financing opportunities to advance mutually beneficial projects and support U.S. exporters looking to do business in Vietnam.”

VDB Chairman Mr. Le Van Hoan lauded the MOU as furthering the US-Vietnam Comprehensive Strategic Partnership. "This... lays the foundation for collaboration and helps both our institutions to fulfill the tasks entrusted by our governments," he said.

EXIM will work with the VDB to pinpoint potential infrastructure and renewable energy projects that accelerate Vietnam's green transition. The agreement signals US support for Vietnam's ambitious climate goals and the energy transition needed to achieve them.

As the US's official export credit agency, EXIM backs US jobs by facilitating exports. Its financing tools include insurance, loan guarantees, and direct loans. EXIM plays a key role in boosting US competitiveness by supporting American exporters and their supply chains.

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