On October 9, 2025, at Agribank’s Headquarters, Deputy General Director Doan Ngoc Luu chaired a working session with representatives from the Food and Agriculture Organization of the United Nations (FAO), the Green Climate Fund (GCF), as well as representatives from the Ministry of Finance and the Ministry of Agriculture and Environment to discuss approaches for accessing international climate finance.

At the meeting, Agribank affirmed that this marks an important step in expanding international cooperation, mobilizing concessional resources, promoting green and climate finance, and strengthening internal capacity for sustainable development. In line with Vietnam’s National Green Growth Strategy (2021–2030) and its commitment to achieve net-zero emissions by 2050, Agribank has identified green finance, ESG (Environment – Social – Governance), and sustainable development as strategic pillars for the 2026–2030 period.

As a leading state-owned commercial bank in the fields of agriculture, farmers, and rural development, and with extensive experience in implementing ODA projects since 1993, Agribank expressed its interest in cooperating with GCF, FAO, and relevant authorities to participate in co-financed projects, provide financial support for green agricultural transformation, and receive technical assistance, institutional consulting, and ESG capacity-building. Agribank also aims to become a Direct Access Entity (DAE) eligible to receive funding directly from the GCF.

The GCF is currently the world’s largest multilateral climate finance fund, providing grants, concessional loans, and technical support for projects on emission reduction and climate adaptation. The FAO, as a specialized agency of the United Nations, was accredited as a GCF implementing entity in 2016 and has since supported multiple countries in developing their direct access capacities. At the meeting, FAO representatives affirmed their willingness to assist Agribank in building institutional frameworks, training personnel, and meeting the requirements to become a GCF Direct Access Entity.

Representatives from the Ministry of Finance, Vietnam’s National Designated Authority (NDA) to the GCF, highly valued Agribank’s reputation and experience in implementing international projects. The Ministry emphasized that Agribank’s accreditation as a Direct Access Entity (DAE) would not only enhance Vietnam’s access to global climate finance but also increase national ownership in mobilizing and managing climate resources, ensuring that funds are effectively directed to agriculture, rural development, and communities vulnerable to climate change.

Direct access to international funds, particularly from the GCF, is considered a significant breakthrough that will enable Agribank to proactively mobilize, manage, and deploy concessional finance for climate finance, green agriculture, and sustainable development, while further enhancing governance capacity in line with international standards.

Deputy General Director Doan Ngoc Luu stated:

“The cooperation with FAO and GCF not only opens opportunities for Agribank to access concessional capital but also helps strengthen its institutional, technical, and ESG management capacity — creating a solid foundation for Agribank to realize its vision of becoming a green bank and a sustainable development bank serving Vietnam’s agriculture, farmers, and rural areas.”

The cooperation among ministries, the technical assistance from FAO and GCF, and Agribank’s proactive participation are expected to facilitate Agribank’s early accreditation as a Direct Access Entity, marking a new phase of integration, innovation, and green development. This effort will contribute substantially to the implementation of Vietnam’s National Green Growth Strategy and the Sustainable Development Goals (SDGs).

Kylie Nguyen