Business

First Vietnamese company receives HSBC green loan

The Duy Tan Plastics Corporation and HSBC Vietnam on July 8 signed a green credit deal to build a factory producing renewable plastics.
First Vietnamese company receives HSBC green loan ảnh 1At the signing ceremony (Photo: bizlive.vn)
HCM City (VNA) - TheDuy Tan Plastics Corporation and HSBC Vietnam on July 8 signed a green creditdeal to build a factory producing renewable plastics.

Some 60 million USD will be allocated in the first phase of the project.

This is the first green credit from HSBC to a Vietnamese company, sourced from100 billion USD the bank has committed to sustainable investment around theworld to 2025.

Stephanie Betant, Country Head of Wholesale Banking at HSBC Vietnam, said the dealbetween HSBC and Duy Tan aims to reach the shared goal of sustainable financialgrowth in Vietnam.

Le Anh, Marketing Director at Duy Tan, said the factory, which will have anestimated capacity of producing 100,000 tonnes of products per year, will bethe first in Vietnam to apply “bottles to bottles” renewable technology.

The green loan is being implemented in tandem with the national strategy ongreen growth of the Vietnamese Government and the green bank development planof the State Bank of Vietnam./.
VNA
#Duy Tan Plastics Corporation #HSBC Vietnam #green credit deal #green finance #renewable plastics #sustainable investment #sustainable financial growth #green growth #vietnamplus #Vietnam News Agency
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