The OPEC Fund for International Development has announced 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 enable SeABank to increase lending to micro, small and medium-sized enterprises (MSMEs), which account for approximately half of employment in the country but continue to face a significant financing gap. A portion of the funding will also support investments in energy efficiency, green buildings, rooftop solar, and electric mobility.
OPEC Fund President Abdulhamid Alkhalifa emphasized the importance of small businesses to Viet Nam's economy, stating that this financing will help more companies access the capital needed to invest and expand while supporting practical climate solutions that can strengthen competitiveness and resilience. The loan agreement builds on a partnership between SeABank and the OPEC Fund that began in 2022 with an initial loan supporting local SMEs, including women-owned businesses, as well as climate projects.
Le Thu Thuy, SeABank's Vice Chairwoman of the Board of Directors, noted that this financing marks an important milestone in the partnership, reinforcing SeABank's commitment to inclusive and sustainable growth. It also advances the bank's role as a financial intermediary in mobilizing and channeling international capital to support Viet Nam's sustainable development priorities. For more information, visit SeABank's website.
