IFC intends $225 mln loan to VPBank

By Tuong Thuy

Wed, June 8, 2022 | 4:13 pm GMT+7

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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