ADB, Switzerland sign $5 mln cofinancing deal to help Vietnam SMEs
The Asian Development Bank (ADB) and Switzerland signed a cofinancing agreement of $5 million Thursday to nurture fintech that can help address low financial inclusion in Vietnam, particularly among small- and medium-sized enterprises, or SMEs.

The ADB and Switzerland are working together to support small- and medium-sized enterprises via fintech. Photo courtesy of University of Economics HCMC.
This funding, along with a $2 million contribution from the Japan Fund for Prosperous and Resilient Asia and the Pacific, financed by the government of Japan, will support technical assistance that aims to expand inclusive and climate finance in Vietnam.
Fintech has been at the center of the Vietnamese government’s plans to expand financial services to consumers and SMEs. The ADB said the technical assistance will help the State Bank of Vietnam (SBV) strengthen the regulatory framework for digital finance, build the capacity of government and other industry stakeholders, and assist financial institutions to develop digital banking.
“Financial institutions rely heavily on collateral-based credit decisions. This disadvantages SMEs, which typically have little or no collateral. Banks also often centralize their credit processes, making it relatively more expensive to process smaller loans,” said Winfried Wicklein, ADB director general for Southeast Asia.
“This technical assistance can help find solutions such as alternative credit scoring and introducing digital lending,” he said.
Nearly 80% of Vietnam’s population is unbanked or underbanked. Microenterprises and SMEs are particularly affected, with their unmet financing needs estimated at VND500 trillion (around $21 billion), said the ADB. Women-owned and women-led SMEs (WSMEs) are even more adversely affected. Women entrepreneurs in the country have an estimated $1.2 billion, but few banks have taken active measures to pursue this market opportunity.
Technical assistance will help advance women’s financing access, including through the provision of training opportunities on fintech and green banking best practices to SBV staff, targeting 25% female participation, as well as consulting services for WSMEs on preparing green loan applications.
It will also help SBV refine its policies on green banking and communicate them to finance sector stakeholders, according to the ADB. Green banking is poised to help Vietnam achieve the $11 billion annual financing needed to reach net-zero carbon emissions by 2050.
“By enhancing the regulatory environment for innovative fintech solutions and building capacities of market players in digital finance, Switzerland supports Vietnam in fostering the digital transformation of its financial sector,” said Dominique Paravicini, head of Economic Cooperation and Development at the Swiss State Secretariat of Economic Affairs (SECO) and Switzerland’s Governor to the ADB Dominique Paravicini.
“Ultimately, this will help SMEs in Vietnam to better access finance and expand their businesses,” he said.
Based in Bern, SECO is the Swiss Confederation’s center of expertise for all core economic policy issues, including economic cooperation and development.
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