GuarantCo provided a guarantee for green bonds issued by International Development and Investment Corporation, a subsidiary of Sao Mai Group and a leading sustainable fish export company in Vietnam (IDI Sao Mai).

The proceeds will enable the next stage of the company’s growth through the development of pangasius fish processing, as well as seeding and hatching facilities. This is in response to a projected 1.4 per cent growth in global fish consumption and increasing export demand, specifically for Vietnamese pangasius, from traditional and new markets in the coming years.

The growth will increase income generation for local farming households who are contracted to cultivate the fish.

The successful issuance of this green bond seeks to further demonstrate the untapped market potential for green financing instruments to help address the significant investment and infrastructure financing gap in the country.

In accordance with its green bond framework, IDI will commit to allocating capital raised from the green bonds to eligible green projects with the goal of promoting sustainable and environmentally friendly pangasius farming and production. The sustainable fish processing practices are in alignment with international sustainability standards set by the Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP). These standards are crucial for Vietnamese companies seeking to access markets with robust sustainability requirements and to meet a growing demand for eco-friendly and responsibly sourced products.

The transaction aligns and contributes to multiple sustainable development goals (SDGs), including SDG 14 (Conserve and sustainably use the oceans, seas and marine resources for sustainable development).