The Proparco Company under the French Development Agency (AFD) will provide a credit of 20 million USD in support of small- and medium-sized enterprises (SMEs) in Vietnam.

An agreement to this effect was signed by the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) and Proparco representatives in Ho Chi Minh City recently.

Under the agreement, Proparco will assist Sacombank in strengthening social and environmental responsibilities through the establishment of a system to monitor the impact of Sacombank-funded projects on society and the environment.

The credit will contribute to the Vietnamese government’s stimulus package to help cope with the impact of the global financial crisis in the context of exhausting long-term capital sources.

SMEs will have more opportunities to get access to capital sources to maintain and expand their business operations, thus contributing to the country’s economic recovery and development./.