US finance institution DFC grants $200 mln loan to SeABank

By Tuong Thuy

Wed, June 22, 2022 | 11:24 am GMT+7

The U.S. International Development Finance Corporation (DFC) has approved a $200 million loan for Vietnam’s SeABank to further support women-owned, women-led companies and small and medium enterprises, as well as promote climate change finance.

A transaction at SeABank in Hanoi. Photo courtesy of Vietnam News Agency.

The transaction is among DFC’s 34 approved projects worth over $1.4 billion in total, including 22 transactions assisting businesses in developing regions globally. SeABank is the only Vietnamese bank in the approval list.

The DFC funding for SeABank, according to the institution, will help enhance the private lender’s financial strength to carry out its planned projects, with a focus on credit for climate change adaption, women-owned and women-led corporations, and SMEs.

Prior to the loan, the Hanoi-based lender secured a $150 million loan package from the World Bank’s investment arm IFC and five international investment funds, namely Banque Internationale de Commerce-BRED, Blue Orchard Microfinance Fund, Kasikornbank, the OPEC Fund for International Development, and responsAbility Investments.

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