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
(*)
   
Revised investment and enterprise laws passed
NA deputies passed the draft revised Law on Investment and the revised Enterprise Law on Nov 26.
Vietjet Air signs $300m deal for engine maintenance
Vietjet Air has signed a 300 million USD engine maintenance deal with CFM International.
Vietnam, Russia prioritise energy cooperation
Vietnam and Russia emphasised the priority to develop cooperation in energy.
CLV summit affirms resolve to enhance links
Measures agreed at 8th Cambodia-Laos-Vietnam summit will allow broader economic connections to be made.
Airbus A350 XMB performs demo flight in VN
Airbus A350 XWB performed a demo flight in Hanoi on Nov. 22 as part of its 11-day tour around Asia.
VN in Asia’s top nations for manufacturing
Vietnam topped the list of 20 countries awarded Asia’s Most Attractive Nation for Manufacturing.
Citizen Identification, Civil Status Laws passed
NA deputies passed the Law on Citizen Identification and the Law on Civil Status on Nov. 20.
PM responds to NA deputies’ queries
The PM laid out measures to deal with public debt in his address to lawmakers in Hanoi on Nov. 19.

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