Mizuho Bank Supports Renewable Energy Projects in Vietnam through Vietcombank

March 29, 2023

Mizuho Bank, Ltd.

Mizuho Bank, Ltd. (President & CEO: Masahiko Kato, “Mizuho Bank”), together with Japan Bank for International Cooperation (Governor: Nobumitsu Hayashi, “JBIC”), The Joyo Bank, Ltd. and The Shiga Bank, Ltd., have set up a credit line totaling USD300 million for Joint Stock Commercial Bank for Foreign Trade of Vietnam (“Vietcombank”).

Vietcombank is the leading state-owned commercial bank in the Socialist Republic of Vietnam, established in October 1962. Mizuho Bank has maintained a capital and business alliance with Vietcombank since 2011. Mizuho Bank and Vietcombank, as strategic partners, have been supporting domestic economic growth in Vietnam, providing a variety of financial solutions to both individuals and companies in the country.

This credit line is intended to finance, through Vietcombank, renewable energy projects in Vietnam such as wind generation and solar generation. The government of Vietnam plans to increase the proportion of renewable energy generation while decreasing coal based generation, and this credit line will contribute to this energy transition in both the public and private sectors.

Mizuho Bank, in line with the aims of the Asia Zero Emission Community led by the Japanese government, whose stated purpose is to pursue carbon neutrality and economic growth, will contribute to the economic and industrial development of Vietnam and to the promotion of Japan-Vietnam business.

At Mizuho, we are working to further incorporate sustainability initiatives into our business strategy. We are drawing on our expertise as a financial services group to proactively provide a wide range of solutions, including advisory and capital financing support, to businesses that are contributing to the shift to a low–carbon society.

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