Proparco and FMO, the French and Dutch government-owned financial institutions, invest US$80 million in SeABank
25/03/2025
Hanoi, March 24th, 2025 – The French Development Finance Institution (Proparco) and the Dutch Entrepreneurial Development Bank (FMO) have signed an agreement to invest US$80 million in Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB). This funding aims to support small and medium-sized enterprises (SMEs), women-owned enterprises, while enhancing the implementation of international standards and best practices in environmental and social risk management as well as climate change mitigation.
With this investment, SeABank’s total international mobilization has reached nearly US$1.1 billion, affirming the Bank’s reputation, operational efficiency, and effective capital utilization.
The signing ceremony is participated by Mr. Olivier Brochet - French Ambassador to Vietnam, Mr. Kees van Baar - Dutch Ambassador to Vietnam, and representatives of 3 parties.
The signing ceremony between SeABank, Proparco, and FMO marks the beginning of a partnership, aiming at driving economic growth and financial inclusion by facilitating capital access for Vietnamese businesses, thereby enhancing capacities and expanding key business areas.
Accordingly, Proparco and FMO have decided to grant a loan of US$80 million to SeABank, of which each party invest US$40 million. This provides additional funding for SeABank to support SMEs and women-owned enterprises in financial access and business expansion. Additionally, SeABank will continue to implement international standards and best practices in environmental and social risk management as well as climate change mitigation.
Speaking at the signing ceremony, Mr. Le Van Tan - Chairman of the BOD (SeABank) said: “Pursuing its philosophy of “customer-centricity”, SeABank takes steps to become customers’ financial advisory partner, guaranteeing equal opportunities for all individuals and businesses to access appropriate financial resources. With the support of Proparco and FMO, SeABank not only has additional funding to offer customers effective financial solutions, but also has its efforts reinforced to better support SMEs, women-owned businesses, and take sustainable actions against climate change. This is also one of the priorities in SeABank's sustainable development strategy”.
Mr. Olivier Brochet - French Ambassador to Vietnam shared: “I am honored to be present here today to witness the signing ceremony and express strong support for Proparco's meaningful activities in Vietnam. As the relationship between France and Vietnam has been elevated to a Comprehensive Strategic Partnership in October 2024, we are more than ever committed to supporting Vietnam's development. This cooperation between Proparco, FMO and SeABank is in line with our strategic cooperation and the common commitments made at the G7 Summit 2024 to address global challenges through protecting the ecosystem and supporting SMEs, especially those owned by women”.
Representing the Dutch government, Mr. Kees van Baar - Dutch Ambassador to Vietnam added: "Along with France, the Netherlands is Vietnam’s biggest European investor and largest trading partner with the aim of driving growth in the country, especially focusing on Vietnamese SMEs and women-owned enterprises. This French – Netherlands investment shows the European spirit and commitment to Vietnam. The Netherlands finds common strengths with Vietnam in terms of water management, agriculture and high tech, which may foster effective cooperation”. Mr. Kees van Baar also emphasized the reason for choosing SeABank as the partner: “SeABank has a clear strategic vision in providing financial solutions that support private enterprises, SMEs, and women-owned businesses. In addition, SeABank has a strong reputation and elaborated domestic network for effective implementation of these initiatives. I believe that FMO and Dutch enterprises, together with SeABank and its ecosystem partners will have cooperative opportunities in the near future".
The US$80 million loan from Proparco and FMO has brought SeABank's total international mobilization to nearly US$1.1 billion. This includes loans, credits, and trade finance from various reputable international financial institutions such as DFC, IFC, AIIB, Norfund, and OPEC Fund, etc. This demonstrates the increasing trusts of international institutions in SeABank's reputation, operational efficiency, especially the effective capital utilization to support SMEs and women-owned businesses.
About Proparco
Proparco, a subsidiary of Agence Française de Développement (AFD) Group, has been a leader in socially responsible investment obver 45 years, working with the private sector to create a fairer, more sustainable world. Through its network of 25 local offices, Proparco is able to work directly with its partners in Asia, Africa, Middle East and Latin America, developing solutions to meet environmental and social challenges.
About FMO
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in enabling entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Forestry, Energy, and Financial Institutions.
