EIB Global, the development arm of the European Investment Bank, and Vietnam's Techcombank have unveiled a €200 million financing agreement to propel private-sector climate investments in Vietnam. Announced at the EU-Vietnam Global Gateway Business and Investment Forum in Hanoi, the deal targets renewable energy, energy efficiency, and sustainable transport projects.
The long-term credit line will enable Techcombank to expand lending to private businesses, including small and medium-sized enterprises. This initiative aligns directly with Vietnam's Just Energy Transition Partnership (JETP), signed in December 2022 with international partners including the EU and UK. The JETP initially sought to mobilise $15.5 billion in public and private finance to support Vietnam's net-zero greenhouse gas emissions goal by 2050.
HIGH-LEVEL ENDORSEMENT
The announcement was made by EIB Vice-President Nicola Beer and Techcombank Vice Chairwoman of the Board Nguyễn Thu Lan, in the presence of Prime Minister Pham Minh Chinh and European Commissioner for International Partnerships Jozef Síkela. EIB Vice-President Nicola Beer, who oversees the bank's operations in Vietnam, said: “Viet Nam has set ambitious goals for its energy transition and sustainable development. The European Investment Bank is supporting these efforts across sectors – from energy systems and sustainable transport to green finance with partners such as Techcombank, through which we support the private sector, including small and medium-sized enterprises. These investments will also deliver tangible benefits for people, including cleaner air, improved energy efficiency, better access to sustainable energy and new opportunities for jobs and economic growth.”
Síkela said: “This agreement shows how our partnership with Viet Nam delivers on what matters most: sustaining economic growth while reducing pollution and expanding clean energy. Through this cooperation, we invest together with Vietnamese companies in renewable energy, improve energy efficiency and modernise transport. This is how Global Gateway turns partnership into practical results: jobs, stronger growth and a cleaner energy system for the future.”
Techcombank Vice Chairwoman of the Board Nguyễn Thu Lan said the EIB's rigorous appraisal process underscored Techcombank's solid financial standing. Techcombank is rated AA- by FiinRatings, Ba3 by Moody’s, BB by S&P and BB- by Fitch, among the highest-rated joint-stock commercial banks in Viet Nam. “We value the opportunity to partner with the European Investment Bank... The facility will strengthen our ability to expand climate-aligned lending, support our clients in their transition to lower-carbon business models, and accelerate investment in sustainable infrastructure. By integrating climate finance into our banking strategy, we reinforce our commitment to long-term, responsible growth that creates value for the economy, society and the environment.”
ADVISORY AND RISK MANAGEMENT
Beyond the credit line, EIB Advisory will collaborate with Techcombank through the Greening Financial Systems (GFS) programme, funded by Germany and Luxembourg. This support will strengthen Techcombank's climate risk management framework, improve climate-related disclosures and support the implementation of the operation. The GFS programme, part of the EIB Advisory range of services, provides tailored support to help central banks, supervisors and financial institutions integrate climate risk management and sustainable finance practices into their operations.
This builds on EIB's long history in Vietnam since 1997, providing about €800 million to support sustainable infrastructure, renewable energy, climate action, and urban transport. Key projects include Hanoi Metro Line 3 and climate finance via local banks, plus a planned €500 million framework loan with Vietnam's Ministry of Finance under JETP.
VIETNAM'S GREEN FINANCE PUSH
Coal accounted for 44.8% of Vietnam's electricity generation in 2023, according to IEA data cited by Argus Media. Techcombank reported 16.4 trillion dong (about $622 million) of green lending in 2024, according to Argus Media.
The JETP was signed with the EU, the UK, France, Germany, the US, Italy, Canada, Japan, Norway and Denmark; the US withdrew in early 2025, according to Argus Media.
According to the EIB's project page, the underlying framework loan with Techcombank (Viet Nam JETP Climate Action FL I) was signed on 15 October 2025.