The OPEC Fund for International Development has announced a US$50 million loan to Southeast Asia Commercial Joint Stock Bank (SeABank) to boost lending to micro, small and medium-sized enterprises (MSMEs) and support climate-focused investments in Viet Nam. MSMEs account for approximately half of employment in the country but continue to face a significant financing gap, which this loan aims to address.
Part of the OPEC Fund's funding will also be directed toward investments in energy efficiency, green buildings, rooftop solar, and electric mobility. OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of small businesses to Viet Nam's economy, stating, "This financing will help more companies access the capital they need to invest and expand, while supporting practical climate solutions that can strengthen competitiveness and resilience."
The new loan agreement strengthens the partnership between SeABank and the OPEC Fund, which began in 2022 with a first loan supporting local SMEs, including women-owned businesses, as well as climate projects. Le Thu Thuy, SeABank's Vice Chairwoman of the Board of Directors, noted, "This financing marks an important milestone in our partnership with the OPEC Fund, reinforcing SeABank's commitment to inclusive and sustainable growth. It also advances our role as a financial intermediary in mobilizing and channeling international capital to support Viet Nam's sustainable development priorities."
For more information, visit SeABank's website.
