LPBank and Ea Sup 1 agree green credit deal

November 10, 2023 | 20:16

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LPBank and Ea Sup 1 Corporation have signed a credit agreement valued at approximately VND2 trillion ($84 million). The move, announced on November 9 at LPBank's Hanoi headquarters, focuses on the shift towards green credit financing.

LPBank and Ea Sup 1 agree green credit deal

Under the agreement, LPBank will extend credit for the Ea Sup 1 Solar Power Plant project, marking a significant investment in renewable energy infrastructure. This financial support will cover construction and operational costs, fulfilling the growing demand for renewable energy across the country.

The Ea Sup 1 Solar Power Plant, located in Ea Sup district, Dak Lak province, is designed to have a capacity of 100MW and represents progress for the region. The project will contribute greatly to the state budget and create thousands of jobs for residents.

LPBank's commitment to sustainable growth and green development is a key aspect of its 2023-2028 business strategy. In addition to favourable loans for business, the bank prioritises sectors such as renewable energy, clean energy, low-carbon manufacturing, and climate change adaptation.

"This agreement is not just a financial commitment, but a testament to our dedication towards a greener economy," said a spokesperson for LPBank. "Through this partnership, we are not only investing in the future of energy but also in the sustainable growth of the nation."

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By Tri Lam

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