Thang Long - Hanoi

IFC provides syndicated loan for Vietnam’s bank
24/05/2012 | 18:51:34
EMAIL PRINT Bookmark and Share SHARE Font Size A A A
A credit contract worth 25 million USD was signed on May 24 in Ho Chi Minh City for the Orientation Commercial Bank (OCB) of Vietnam to support small and medium enterprises.

Signatories were OCB, the International Finance Corporation (IFC), a member of the World Bank Group and the French BNP Paribas bank.

Under the contract, IFC will provide OCB with 15 million USD; the remainder will be from BNP Paribas - the strategic partner of OCB. This is one of IFC’s first syndicated loans for a Vietnamese bank.

According to OCB General Director Nguyen Dinh Tung, with the loan, OCB will help Vietnamese small and medium-sized enterprises – mainly in the field of production, import-export business, trade, service and agriculture – access more capital.

OCB will also give priority to environment protection projects, with the aim of ensuring a clean, green environment for both community and business sectors.

Simon Andrews, IFC Regional Director for Vietnam , Cambodia , Laos and Thailand said this is a new lending method for international credit, which could be applied to other banks in Vietnam .

The additional provision of credit from IFC to OCB raises IFC’s total OCB finance package to 45 million USD.-VNA
COMMENTS
Your comments will be likely edited before publishing
Fullname
(*)  
Email
(*) 
Content
(*)
   
Vietnam, NZ look towards strategic partnership
Vietnam and New Zealand have agreed to intensify their comprehensive partnership.
Vietnamese woman wins L'Oreal-UNESCO
Tran Ha Lien Phuong was presented with L'Oreal-UNESCO International Rising Talent award.
Vietnam, Australia agree to promote bilateral ties
Vietnam and Australia agreed on measures to promote the efficiency of their bilateral partnership.
RoK parliament leader visits Vietnam
Speaker of RoK’s National Assembly Chung Ui-Hwa arrived in Hanoi on Mar 17.
Vietnam, Australia intensify cooperation
The Australia visit by PM Nguyen Tan Dung on Mar 17-18 is expected to deepen comprehensive partnership.
Buon Ma Thuot Victory marked
A ceremony was held in Dak Lak on Mar. 10 to mark the 40th anniversary of Buon Ma Thuot Victory.
VN attends UN debate on HR, climate change
Vietnam always places her people in the cornerstone of every policy related to climate change.
Tay Nguyen campaign significant to victory
Liberation of the south and national reunification 40 years ago was marked with victories in a series of campaigns.

EMAIL PRINT Bookmark and Share SHARE Font Size A A A
Other websites:
Partners: