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VPBank receives loans from large financial institutions, affirming its reputation

The International Finance Corporation (IFC) has completed the disbursement of a loan worth nearly 3.7 trillion VND (150 million USD) to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to promote projects which would create sustainable value for the business community and the economy.
VPBank receives loans from large financial institutions, affirming its reputation ảnh 1Illustrative image (Photo: VPBank)
Hanoi (VNS/VNA) - The International FinanceCorporation (IFC) has completed the disbursement of a loan worth nearly 3.7trillion VND (150 million USD) to Vietnam Prosperity Joint Stock CommercialBank (VPBank) to promote projects which would create sustainable value forthe business community and the economy.

The loan with a five-year term would help VPBank to have moreresources to meet the urgent credit needs of small and medium-sized enterprises(SMEs), women-led enterprises and projects in environment protection and climatechange response in Vietnam.

In the context that the world economy and Vietnam are facing anumber of difficulties and challenges, IFC’s disbursement of the 150 million USDloan to VPBank affirmed the bank’s capacity and reputation in the internationalarena.

As a dynamic, innovative, and creative bank, VPBank was constantlylooking for international capital sources at reasonable costs in order to meetthe credit demand for investing in production and business of corporatecustomers, especially SMEs which accounted for 90% of the number of firmsacross the country, thereby joining hands with the Government to stabilise themarket and promote post-pandemic growth.

The cooperation between VPBank and IFC began many years ago withmany loans worth hundreds of millions of US dollars disbursed to the bank.

Specifically, within the framework of the financing programme forpandemic-hit businesses, IFC provided a loan of 100 million USD to VPBank in2020, which helped the bank increase liquidity and continue disbursements ofnew loans for corporate customers while extending the repayment deadlines forenterprises.

Also in 2020, IFC and other international co-sponsors grantedVPBank green credit worth 212.5 million USD, opening a pioneering opportunityin lending for green projects of banks in Vietnam.

Notably, VPBank inked a syndicated loan agreement worth 500million USD in November with five prominent financial institutions. Thoseincluded the Asian Development Bank, Sumitomo Mitsui Banking Corporation, JapanInternational Cooperation Agency, ANZ Bank, and Maybank Securities Pte. Ltd. –a member of Maybank Investment Banking Group./.
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