Illustrative image (Photo: itlvn.com) HCM City (VNA) - The International Finance Corporation (IFC), a member of the World BankGroup, announced on August 11 that it will provide a 70 million USD loan to Indo Trans Logistics Corporation(ITL Corp), with the aim of improving logistics, trade andcompetitiveness in Vietnam’s economy amid the COVID-19 pandemic.
ITL Corp GeneralDirector Ben Anh said the IFC’s long-term loan and expertise will help thecompany improve the efficiency of its logistics system and expand portfolios tobetter serve customers.
Bac Giang LGGGarment Corporation, which specialises in personal protective suits, recentlyreceived a 63 billion VND (2.7 million USD) loan in a preferential creditpackage from Standard Chartered in support of Vietnam’s fight against thepandemic.
Standard Charteredlaunched the package in March for companies specialising in the production anddistribution of pharmaceuticals and anti-pandemic products such as ventilators,medical masks, personal protective suits, and hand sanitiser.
General Director ofStandard Chartered in Vietnam Nirukt Sapru said the lender wishes to join handswith LGG in the fight against COVID-19.
HSBC Bank Vietnam,meanwhile, became the first foreign bank to issue bonds in Vietnam recently, totalling600 billion VND. Each bond, worth 100,000 VND, has a three-year maturity and anannual interest rate of 5.8 percent.
HSBC Vietnam GeneralDirector Tim Evans said the move marks the bank’s 150th anniversary inVietnam and affirms its long-term commitment to the country.
It also plans toregularly issue bonds in Vietnam to contribute to the growth of local companiesand the country’s capital market, he said./.
