VietinBank launches GREEN UP Green Finance Package, accompanying businesses in sustainable development
Continuing the series of activities to promote sustainable finance after COP28 (the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change), VietinBank launched the GREEN UP Green Finance Package with preferential interest rates and fees for projects and plans that bring environmental and social benefits.
As the leading bank and pillar of the economy, VietinBank is committed to accompanying customers in the process of transitioning to net zero emissions. VietinBank's sustainable development finance has achieved 100% annual growth in the period 2018 - 2022. Continuing the series of activities to promote sustainable finance after COP28, VietinBank has launched the GREEN UP Green Finance Package for projects that bring environmental and social benefits.
5,000 billion VND in green credit
From January 5, 2024 to December 31, 2024, VietinBank will spend VND5,000 billion to provide preferential capital for projects and plans that bring environmental and social benefits in areas such as: Green energy, green export ( textiles, fabric, footwear, coffee, rice, wood, seafood), green construction, etc.
The interest rate of GREEN UP Green Finance Package is only from 5.8%/year for short-term loans and only from 6.2%/year for medium and long-term loans. Business customers of all sizes and meeting sustainable development standards such as: Certified with GRS Global Recycling Standard, OEKO Standard, Fair Trade Fair Trade Certificate, USDA Organic Standard, VFCS Sustainable Forest Management Certificate, EDGE Gold Green Building Certificate, etc. can all participate in the GREEN UP Green Financial Package.
The implementation of this Green Credit Package is part of activities actively implemented by VietinBank to support capital flows for green, environmentally friendly projects; thereby bringing common benefits to the entire community. Thereby, VietinBank also hopes to become a strong financial support for businesses with sustainable development goals.
fee incentives for green businesses
In addition to allocating green credit capital, VietinBank also exempts and reduces many types of fees by up to 100%, supports businesses in reducing costs, focusing on sustainable development. Specifically, green enterprises are given beautiful account numbers, 100% exemption from account maintenance fees, eFAST service fees, ERP connection fees, up to 100% reduction in VND transfer services at the counter, foreign currency transfer, up to 50% reduction in foreign currency transfer service fees, border payment transfer fees... The maximum preferential interest and fee period is up to 24 months.
Currently, VietinBank is one of the pioneering banks in developing a comprehensive product portfolio for sustainable development, from the fields of capital mobilization, green credit... to ESG consulting. Participating in the GREEN UP Green Finance Package, businesses will not only enjoy the incentives of the Program; but also use other sustainable financial solutions of VietinBank, supporting businesses in their journey towards net zero emissions as committed by the Government at COP26.
Enterprises interested in the GREEN UP Green Financial Package can contact the nearest VietinBank branch/transaction office or Customer Support Center: 1900 558 868.
(*) Specific conditions to comply with VietinBank's regulations
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