From May 27 to June 5, 2025, a delegation from the State Bank of Vietnam, led by Standing Deputy Governor Đào Minh Tú and accompanied by leaders of Vietnamese commercial banks, conducted a working visit to Germany and Luxembourg. The mission aimed to exchange experiences and seek opportunities to enhance international cooperation in sustainable finance, promote green credit, and facilitate a just transition.

Agribank's delegation, including Ms. Từ Thị Kim Thanh—Member of the Board of Directors and Head of the ESG Steering Committee—and Mr. Đoàn Ngọc Lưu—Deputy General Director and Deputy Head of the ESG Steering Committee—actively participated in the working sessions with the State Bank's delegation. The focus was on learning about policies, management practices, and accessing green financial resources from two leading sustainable finance centers in Europe: Germany and Luxembourg.

In Germany, the delegation engaged with the Federal Financial Supervisory Authority (BaFin), the Deutsche Bundesbank, Finance in Motion, DZ Bank (the central institution of the German cooperative banking system), and several commercial banks. Discussions centered on policy frameworks, mobilizing capital for green and sustainable development, and applying environmental and social risk management tools in credit activities.

Representatives shared insights on sustainable development models within the German central bank and commercial banks, integrating ESG risk factors into banking risk management regulations, developing ESG risk classification systems, strategies for managing indirect emissions, and tools for monitoring Sustainable Development Goals (SDG) indicators in banking operations.

The delegation visited and held a working session at DZ Bank, Germany

In Luxembourg – one of Europe’s leading green finance centers – the delegation held in-depth working sessions with the European Investment Bank (EIB), the Luxembourg Sustainable Finance Initiative (LSFI), and several other financial institutions to explore green bond issuance models, project classification criteria for a just transition, as well as mechanisms for technical assistance and mobilization of private resources for sustainable development goals. These organizations emphasized the critical role of banks in the green transition and introduced indirect financing programs through partner banks to promote green lending. They also shared experiences in supporting central and commercial banks in greening the financial system through technical assistance programs and concessional credit schemes.

The delegation visited and worked at DZ Bank in Germany

During the meetings, Mr. Doan Ngoc Luu – Deputy General Director of Agribank – presented an overview of Agribank and Agribank’s progress in its journey toward green transition, digital transformation, and sustainable development. As part of the trip, Agribank proactively engaged in discussions and proposed cooperation with international organizations on technical assistance, access to concessional funding, and the development of green financial products targeting both individual and corporate clients, with a particular focus on the agriculture, farmers, and rural development sector.

Mr. Doan Ngoc Luu – Deputy General Director of Agribank – delivered a speech during the working session with DZ Bank

This working trip holds special significance for Vietnamese commercial banks, including Agribank, in the context of Vietnam’s active pursuit of the dual transition goals: green transformation and digital transformation. The meetings provided valuable international experiences for the development of green banking models in Vietnam, with a focus on mobilizing private resources through green bond issuance, establishing criteria for identifying green projects, and mechanisms to promote green credit development. Through this mission, Agribank reaffirmed its commitment to accompanying the Vietnamese banking system on the path toward achieving net-zero emissions by 2050, developing green banking, and contributing to a green, sustainable, and inclusive economic transition.

Kylie Nguyen