Against the backdrop of unprecedented climate change challenges facing the global economy and that of Vietnam in particular, the Vietnamese Ministry of Finance, in collaboration with Global Affairs Canada, has officially launched the “Advancing Growth, Innovation and Leadership for Enterprises” (AGILE) project.
The AGILE project is designed with a five-year vision, focusing on strengthening the ecosystem for climate-related businesses, with a specific priority on gender-integrated and inclusive enterprises.
The project structure revolves around three main components:
First, strengthening the support ecosystem by focusing on capacity building for Entrepreneur Support Organizations (ESOs) and intermediaries. The goal is to empower these entities to provide high-quality advisory and training services to climate businesses. AGILE places a particular emphasis on enterprises operating in high-risk climate areas, such as the Mekong Delta and coastal regions, as well as women-led businesses.
Second, unlocking capital by deploying innovative financial mechanisms to boost investment in climate-impact enterprises. A highlight of this component is the development of a “Climate Tech Accelerator Track”—a specialized acceleration pathway for clean technology companies to help them access international investors.
Third, enhancing investor capacity. The project will work with investment funds and banks to integrate gender factors and climate metrics into their investment appraisal processes. This ensures that capital flows not only generate profit but also create positive social and environmental impacts.
AGILE will provide non-refundable grants (up to CAD150,000 or nearly $110,000) for high-risk stages of business development. These grants act as “seed capital,” helping businesses perfect their technology, test business models, or prepare for fundraising. A prerequisite for this support is that the enterprise must mobilize matching funds from the private sector (commercial capital) at an expected ratio of up to 5:1.
Canadian Ambassador to Vietnam, H.E. Jim Nickel, stated that the Official Development Assistance (ODA) funds within the AGILE project will not operate in a traditional manner but will instead serve as a catalyst. The objective is to utilize this capital to share risks, thereby attracting much larger flows of private investment into the climate adaptation sector.
Anh Nhi
