IFC intends $225 mln loan to VPBank
International Finance Corporation (IFC), the largest global development institution focused on the private sector in developing countries, has proposed a five-year loan package of up to $225 million to VPBank.
A VPBank transaction office in Hanoi. Photo courtesy of VPBank.
The planned package, comprised of $150 million from IFC’s own account and mobilization of $75 million from various sources, aims to support the growth of the Vietnamese private bank’s small and medium enterprise (SME) portfolio, with a relevant focus on women-led or owned SMEs financing and climate-related projects, the World Bank’s investment arm disclosed Wednesday.
Proceeds of the investment may be used by the Hanoi-headquartered commercial bank throughout the country.
As of December 2021, VPBank has a network of 235 branches and transaction points across Vietnam. It provides a full range of banking services across all consumer groups including retail, SME, corporate, and institutional clients.
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