It is part of the framework of the Program, implemented by GIZ Vietnam on behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), following numerous efforts by State Bank of Vietnam to contribute to channeling investments from private sector through banking system to support achievement of transforming the national economy toward being greener and more socially and environmentally sustainable.
Dr Michael Krakowski, Program Director and Chief Technical Advisor of the Macroeconomic Reforms/Green Growth Program delivered his speech. (Photo: GIZ Vietnam)
Participants are experts from the State Bank of Vietnam, from those commercial banks, financial institutions, line ministries, cities and provinces, which have implemented green activities to some extent, as well as experts from international organisations and key green programs of GIZ enjoy a good forum to update, discuss on current status and perspectives of international green funding sources, and on financial needs for green growth in Vietnam.
Ms Nguyen Thi Hong, Deputy Governor of State Bank of Vietnam spoke at the event. (Photo: GIZ Vietnam)
Speaking at the event, Ms Nguyen Thi Hong, Deputy Governor of State Bank of Vietnam, emphasised decisive role of the banking system in “greening” investment capital flows to the economy, and in credit risk management towards green growth, saying that the two most important issues are resources mobilisation and development of credit programs with appropriate targets in line with criteria of green and environmentally friendly projects.
Meanwhile, Dr Michael Krakowski, Program Director and Chief Technical Advisor of the Macroeconomic Reforms/Green Growth Program stressed that this Program has actively supported the State Bank of Vietnam to develop an appropriate policy framework for green investment and green financial products and to channel domestic and international funding sources through the finance and banking system towards green investments; especially those from increasing global climate and green funds.
They have also been shared by representatives from the State Bank of Vietnam on the very first important results that lay down foundation for the whole process of developing framework for green finance - green banking policies and products, e.g. pilot green credit programs, green project catalogue, social & environmental risk management guideline, green credit reporting regulation./.