New OPEC Fund financing to fuel Viet Nam’s small business engine

Small businesses are at the heart of Viet Nam’s economy, providing around half of all employment. Yet many micro, small and medium-sized enterprises still face barriers in accessing the finance they need to grow, invest and compete.

The new OPEC Fund financing will help Southeast Asia Commercial Joint Stock Bank, known as SeABank, increase lending to local businesses across the country.

It will also support practical climate solutions, including energy efficiency, green buildings, rooftop solar and electric mobility. These investments can help companies lower costs, modernize operations and strengthen resilience as Viet Nam advances its sustainable development priorities.

OPEC Fund President Abdulhamid Alkhalifa said the financing recognizes the central role of small businesses in driving jobs and growth, while helping expand access to capital and support climate solutions that improve competitiveness.

The agreement builds on the OPEC Fund’s partnership with SeABank, which began in 2022 with a first loan supporting SMEs, women-owned businesses and climate-related projects.

SeABank is one of Viet Nam’s leading commercial joint stock banks, serving more than 4 million customers through 181 branches and transaction offices. The new loan will strengthen its ability to channel international capital toward inclusive and sustainable growth.