news - DFCD supports sustainable aquaculture in Vietnam


DFCD supports sustainable aquaculture in Vietnam

March 22, 2024

The Dutch Fund for Climate and Development (DFCD), represented by SNV and the Dutch entrepreneurial development bank (FMO), and Camimex Group Joint Stock Company (Camimex), are delighted to announce the intention to launch a strategic investment which aims to support sustainable aquaculture industry in Vietnam's Mekong Delta. This commitment (a planned senior secured loan of USD 15 million from FMO to Camimex) would mark the first investment in a company that has been de-risked through the DFCD's innovative origination approach. The announcement coincides with the Dutch trade mission to Vietnam, highlighting the international importance of this proposed initiative. 


Camimex Group Joint Stock Company: 'This pivotal proposed investment from FMO, facilitated by the innovative support of the DFCD, will be a milestone in our quest to blend business success with environmental stewardship,' expressed Mr Dang Ngoc Son, General Director of Camimex. 'Our journey with the DFCD, from origination support by SNV to a proposed investment by FMO, has been transformative. It has allowed us to pioneer practices that not only enhance the resilience of our operations against climate change but also ensure the sustainability of the ecosystems we depend on. We are setting new standards for the industry, proving that profitability and ecological responsibility can go hand in hand.' 

FMO: 'At FMO, we are driven by a mission to empower entrepreneurs to build a better world, and our proposed investment in Camimex embodies that mission perfectly,' said Huib-Jan de Ruijter, Co-Chief Investment Officer at FMO. 'Through DFCD, we are pioneering a model that leverages finance as a catalyst for sustainable development in areas most threatened by climate change. This approach not only mitigates risk but also opens up new avenues for businesses that can thrive in harmony with their environments. We look forward to realizing this innovative investment, contributing to a sustainable future for the Mekong Delta and beyond.' 

SNV: Simon O’Connell, Chief Executive Officer at SNV, highlighted the DFCD's crucial role in catalyzing investment through innovative financial mechanisms that benefit businesses and smallholder farmers in climate-vulnerable regions. 'Our partnership with Camimex, bolstered by the DFCD's support, demonstrates the effectiveness of collaborative efforts to de-risk business propositions in climate adaptation and resilience. Focused on areas like the Mekong Delta, this approach will not only advance Camimex but also set a global benchmark. It aims to underscore the tangible benefits of investing in climate resilience, serving as a model of hope and a guide for future initiatives.' 

Once executed, this proposed investment would be a landmark achievement for the DFCD, SNV, FMO, and Camimex, showcasing the power of collaborative efforts in driving sustainable business practices in areas vulnerable to climate change. It underscores a shared commitment to finding innovative solutions that ensure economic viability while protecting and restoring the natural world. 

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