The OPEC Fund for International Development has provided a $50 million loan to Vietnam’s Southeast Asia Commercial Joint Stock Bank (SeABank) to expand financing for small businesses and climate-focused investments across Vietnam.

In a statement on Monday, SeABank said the loan can help it increase lending to micro, small, and medium-sized enterprises, which account for around half of employment in Vietnam but continue to face a significant financing gap. Part of the funding will also support investments in energy efficiency, green buildings, rooftop solar, and electric mobility.

Abdulhamid Alkhalifa, President of the OPEC Fund, said small businesses are central to Vietnam’s economy and an important source of jobs and growth. The financing will help more companies access capital to invest and expand while supporting practical climate solutions that strengthen competitiveness and resilience.

Le Thu Thuy, SeABank’s Vice Chairwoman of the Board of Directors, said the financing marks an important milestone in the bank’s partnership with the OPEC Fund. It can reinforce SeABank’s commitment to inclusive and sustainable growth and its role in mobilizing international capital to support Vietnam’s sustainable development priorities.

The loan builds on a partnership between SeABank and the OPEC Fund that began in 2022 with a first loan supporting local SMEs, including women-owned businesses, and climate projects.

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