HSBC Vietnam provides green loan to logistics major Gemadept
HSBC Vietnam and Gemadept Joint Stock Company signed a sustainable linked loan agreement on Tuesday as part of a strategy to make green capital available for sustainable development.
Nguyen Thanh Binh, general director of Gemadept, presents flowers to Ahmed Yeganeh, head of wholesale banking at HSBC Vietnam, after inking the deal. Photo courtesy of HSBC.
This is the next step in logistics company Gemadept's development plans, also serving to reaffirm HSBC Vietnam’s role and efforts in helping Vietnamese businesses to become more sustainable.
Port exploitation and logistics - Gemadept's specialty - are also key for sustainable development, acting as an important bridge in domestic and global trade.
The potential of the industry is highlighted by the continuous growth of imports and exports in recent weeks, demonstrated by a 15.5% increase of total import and export turnover in the first quarter of 2024.
This deal marks the first sustainable linked loan that HSBC has successfully arranged for a Vietnamese enterprise operating in ports and logistics.
To achieve this milestone, Gemadept had to pass HSBC's credit management and approval process on sustainable finance, as well as incorporate KPIs in its green and sustainable development strategy.
This sustainable linked loan marks a new chapter for both organisations’ strategic cooperation.
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