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
(*)
   
FDI down 8 percent this year to 8.8 billion USD
Vietnam has attracted 8.8 billion USD in foreign direct investment in the year-to-date, an 8 percent fall year-on-year.
Nation remembers war martyrs and invalids
A solemn memorial service for fallen soldiers was held in central Quang Tri province.
Seven-month CPI pace slowest in a decade
Vietnam’s July CPI was at 10-year low, gaining only 0.68 percent from the end of 2014.
Joint statement of Vietnam-Thailand cabinet meeting
A joint statement of the third Vietnam-Thailand joint cabinet retreat was signed on July 23.
HCM City leaders visit US to strengthen ties
A delegation from Ho Chi Minh City has concluded a US visit to the US to bolster cooperation.
Prime Minister talks with Lao counterpart
The two leaders agreed on measures to boost bilateral cooperation during their talks.
Deputy PM holds talks with Chinese Vice Premier
Deputy PM Nguyen Xuan Phuc held talks with Chinese Vice Premier Zhang Gaoli on July 16.
Banking system has optimistic outlook for 2015
Domestic and foreign credit institutions in Vietnam continue to see a bright business outlook.

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