HANOI, VIETNAM – The OPEC Fund for International Development is providing a US$50 million loan to Southeast Asia Commercial Joint Stock Bank (SeABank) to expand financing for small businesses and climate-focused investments across Viet Nam. The loan will help SeABank increase lending to micro, small and medium-sized enterprises (MSMEs), which account for around half of employment in Viet Nam but continue to face a significant financing gap. Part of the OPEC Fund's funding will also support investments in energy efficiency, green buildings, rooftop solar and electric mobility.
OPEC Fund President Abdulhamid Alkhalifa said: "Small businesses are central to Viet Nam's economy and an important source of jobs and growth. 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 that began in 2022 with a first loan in support of local SMEs, including women-owned businesses, as well as climate projects. Le Thu Thuy, SeABank's Vice Chairwoman of the Board of Directors, said: "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."
This announcement is significant because it addresses a critical financing gap for MSMEs in Viet Nam, which are vital to employment and economic growth but often lack access to capital. By channeling funds through SeABank, the OPEC Fund is enabling targeted support for both small businesses and climate-friendly investments. The focus on energy efficiency, green buildings, rooftop solar, and electric mobility aligns with global trends toward sustainable development and helps Viet Nam transition to a low-carbon economy. Moreover, the partnership between an international development institution and a local bank demonstrates a practical model for mobilizing capital to achieve development goals. The continued collaboration since 2022 indicates confidence in SeABank's ability to effectively deploy funds and achieve desired outcomes. This loan not only provides immediate financial resources but also strengthens the capacity of local financial intermediaries to support sustainable growth. The implications extend beyond the US$50 million, as it can catalyze further investments and encourage other financial institutions to prioritize MSME and climate finance. For more information, visit SeABank.
