FMO is proud to announce its participation in Ho Chi Minh City Development Commercial Bank’s (HDBank) landmark international green bond program. FMO has invested US$30 million in the second tranche of HDBank’s US$100 million green bond issuance, alongside British International Investment (BII), reinforcing our commitment to promoting sustainable economic growth and climate finance in emerging markets.
The tranche, totaling US$50 million, was privately placed with FMO (US$30 million) and British International Investment (BII, US$20 million) and follows a US$50 million inaugural tranche subscribed by IFC, the International Finance Corporation, which played a catalytic role in structuring and mobilizing additional investors to the program.
This partnership between HDBank, IFC, FMO, and BII supports Vietnam’s sustainable finance ecosystem by channeling international capital to eligible climate and green projects under HDBank’s Sustainable Finance Framework- including renewable energy (solar), energy efficiency, green buildings, electric vehicles, and energy-saving solutions. The financed portfolio is expected to help reduce approximately 102,000 tons of CO₂ over 10 years, contributing to Vietnam’s Net Zero 2050 commitment.
Juan Jose Dada Ortiz, Head of Financial Institutions at FMO, said: “FMO is delighted to begin its partnership with HDBank through the first-ever Green Bond program issued by HDBank – a significant milestone that we believe will lay a solid foundation for creating new opportunities to help FMO and its investors, together with HDBank, promote inclusive and sustainable economic growth in Vietnam.”
Nguyen Huu Dang, CEO of HDBank, stated: “Sustainable development goals reside at the heart of HDBank’s strategy which is featured by the best value for customers, partners, and the community. This International Green Bond initiatives marks a new stepping stone on the journey towards those goals”.
Weichuan Xu, IFC’s Lead for Financial Institutions Group in Viet Nam, Cambodia and Lao PDR: “IFC is pleased to partner with HDBank on its impressive growth journey, with this landmark international Green Bond issuance representing a significant step in expanding the bank’s climate finance portfolio and advancing Vietnam’s economic and social progress. The funds raised will support projects that foster sustainable industries, generate jobs, and strengthen communities. This initiative underscores IFC’s commitment to Vietnam’s long-term development, while serving as a catalyst to mobilize additional investors in promoting inclusive and resilient growth across the country."
Srini Nagarajan, Managing Director and Head of Asia at BII, said: “Vietnam continues to be a priority market for BII as we invest in South-East Asia’s green energy transition. Our participation in HDBank’s inaugural green bond programme, together with IFC and FMO, sends a strong signal about the readiness and potential of Vietnam’s sustainable finance ecosystem. This will help attract more capital into climate responsible projects, overall, supporting the country’s net-zero 2050 ambitions.”
A formal announcement was made at “The US$100 Million Green Bond Issuance Disclosure Ceremony” held with the participation of FMO, BII, IFC, and officials from the Netherlands and UK consulates in Ho Chi Minh City, reflecting the strong international partnership behind the program.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
About BII
British International Investment plc is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
