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, Cambodia issue joint statement
VN and Cambodia issued a joint statement on the conclusion of President Truong Tan Sang’s visit.
Fuel price cuts continue dragging CPI down
The December CPI fell by 0.24 percent from the previous month, according to the GSO.
Prospect for Vietnam-Cambodia ties
VN and Cambodia have plenty of rooms to further their ties, said President Truong Tan Sang
PM proposes orientations for GMS cooperation
PM Nguyen Tan Dung has proposed four orientations for the Greater Mekong Sub-region cooperation.
Hanoi ceremony marks army’s foundation
A ceremony was held in Hanoi on Dec. 20 to celebrate the 70th anniversary of the VN People’s Army.
VN-Venezuela diplomatic ties marked
A meeting was held in Hanoi on Dec.16 to mark the 25th anniversary of VN-Venezuela diplomatic ties.
Vietnam, RoK conclude FTA talks
Vietnam and the RoK signed a minutes to conclude negotiations of their FTA in Busan on Dec 10.
Stronger measures urged to protect children
Vietnam should build regulations to promote organisations' role in combating violence against children.

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