The Vietnam Development Bank (VDB), a national direct access entity based in Viet Nam, is a state-owned development bank mandated to execute the state development investment and export credit policies conforming to the regulations of the government. With a mission and related functions focused on fund mobilization, credit activities, entrustment and participation in the domestic and international interbank market, it operates for non-profit purposes to carry out the tasks of the state and other tasks as stipulated by the government. VDB has extensive experience in managing foreign capital and domestic funds and in financing development projects in line with the Vietnamese Government’s development targets. 

VDB has a strong national presence working with both public and private sector entities. It mobilizes domestic and foreign capital to provide investments with an emphasis on development assistance, provides guarantees for small-and medium-size enterprises’ loans and on-lends official development assistance for over 400 projects. With state funds, it has financed development projects in prioritized sectors (e.g. renewable energy, agriculture, infrastructure, waste treatment, forestation and health) in rural and mountainous areas and has been involved in renewable energy and energy efficiency projects with a focus on the private sector with the use of funds from international donors.

Together with GCF, VDB intends to continue with projects in the agriculture, rural development, infrastructure construction, forestation and waste management sectors. Furthermore, it intends to focus more on new sectors and initiatives instead of repetitively implementing activities that have already been undertaken in Viet Nam. For example, instead of focusing on hydropower projects, which are more developed in the country, 
VDB intends to provide loans to wind power and solar power projects and adaptation projects, such as early warning systems, climate risk reduction and awareness-strengthening.