Illustrative image (Photo: Internet) Hanoi (VNA) - The AsianInfrastructure Investment Bank (AIIB) said on July 17 that its board ofdirectors had approved a 100-million-USD loan to the Vietnam Prosperity JointStock Commercial Bank (VPBank) to help sustain business activities disrupted bythe COVID-19 pandemic.
Co-financed with theInternational Finance Corporation, the loan is offered to help the bank expandlending to the private sector, including small and medium-sized enterprises, AIIBsaid in a statement.
This is AIIB's first projectfinancing in Vietnam, China’s Xinhua News Agency reported.
"Small and mediumenterprises are the backbone of the economy and by injecting liquidity into themarket, we can help this critical sector as part of the overall economicrecovery in Vietnam," said AIIB Vice President, Investment Operations,D.J. Pandian.
As of July, AIIB has approved atotal of 16 projects under its COVID-19 Crisis Recovery Facility, amounting toover 5.9 billion USD to support 12 members in navigating the challenges ofthese highly uncertain times, the statement said./.
Co-financed with theInternational Finance Corporation, the loan is offered to help the bank expandlending to the private sector, including small and medium-sized enterprises, AIIBsaid in a statement.
This is AIIB's first projectfinancing in Vietnam, China’s Xinhua News Agency reported.
"Small and mediumenterprises are the backbone of the economy and by injecting liquidity into themarket, we can help this critical sector as part of the overall economicrecovery in Vietnam," said AIIB Vice President, Investment Operations,D.J. Pandian.
As of July, AIIB has approved atotal of 16 projects under its COVID-19 Crisis Recovery Facility, amounting toover 5.9 billion USD to support 12 members in navigating the challenges ofthese highly uncertain times, the statement said./.
VNA
