ADB and BII set to promote green trade in Asia and Vietnam

This support will initially focus on Vietnam’s transactions and will be subsequently extended to other countries supported by ADB and BII.

This partnership will also provide financing for local importers of solar panels, wind turbines, electric vehicles, and agricultural goods, thereby supporting the region’s transition to cleaner energy.

“As Asia’s climate bank, ADB is committed to supporting green, climate-smart, and sustainable trade to reduce climate impacts by promoting the transition to renewable energy sources,” said Suzanne Gaboury, director general for Private Sector Operations of ADB.

“Partnerships like this with BII demonstrate ADB’s leadership in convening multilateral institutions to deploy trade financing solutions that promote sustainable, trade-based international development,” she noted.

For his part, Srini Nagarajan, managing director and head of Asia of BII, emphasised that "Green trade finance enables supply chain development of the renewable energy industry and tackles the bottleneck for much needed long-tenor financing in the region.”

“We are delighted to work with ADB on a shared ambition to support the region’s energy transition and build climate resilience,” he added.