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Saturday, February 24, 2024

Vietnamese textile & garment firms get boost for going green

To support Vietnamese textile and garment factories to move towards greener modes of production, the Bank for Investment and Development of Vietnam (BIDV) has announced an attractive loan package.

BIDV announced that it will extend a credit package of VND 4,200 billion with incentives like low-interest rates, favourable collateral policies, and attractive foreign exchange rates.

According to BIDV, the program will run till June 30, 2024, or until the whole budgeted amount is disbursed.

The companies that take these loans will enjoy preferential exchange rates of up to 170 points for foreign currency transactions.

These loans will be disbursed to enterprises that aim to get certifications from sustainable certification companies like Global Recycling Standards (GRS), BCI, ZDHC, etc.

Loans will also be given to finance green building construction or renovation projects, replacing machinery for more sustainable machinery, equipment that saves energy, and waste treatment systems.

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