Vietnam Development Bank is officially accredited as NIE of GCF

05/07/2021 12:07

On the night of July 1, 2021 (Hanoi time), at the twenty-ninth meeting of Green Climate Fund Board (B.29), Green Climate Fund (GCF) has officially accredited the Vietnam Development Bank (VDB) as National Implementing Entity (NIE).

GCF is one of the largest climate finance funds in the world, established in 2010 under the United Nations Framework Convention on Climate Change with the goal of creating a $100- billion fund to support activities on mitigation and adaptation to climate change on a global scale. 

With unremitting efforts for more than 4 years in completing the accreditation application to meet the strict conditions and standards of GCF, VDB is proud to become the first national-level agency in Vietnam to be accredited as NIE of GCF. 
In the coming time, as the NIE of GCF, VDB will search, develop and submit funding proposals for climate change adaptation and mitigation programs and projects that meet GCF’s standards as well as be responsible for supervising and managing capital from this fund. 
This is a good result for VDB’s efforts during a long period of time that VDB has been consistent with its goals in spite of facing many difficulties. And this is especially meaningful in the restructuring process of VDB, opening up new opportunities at the international level for VDB’s operations./.

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