IFC provides loan supporting SMEs in VN

VGP – The International Finance Corporation (IFC), a member of the World Bank, has approved to grant the Viet Nam Prosperity Joint-Stock Commercial Bank (VPBank) a loan of US$57 million.

July 19, 2017 4:50 PM GMT+7

The loan, with the period of two years and the extended period of two years, will help the VPBank provide loans for customers operating in small- and medium-sized enterprises (SMEs).

As a prestigious international financial institution, the IFC focuses on supporting the private sector by providing middle and long-term loans, stakes, guaranty, risk management and consultancy services.

IFC country manager for Viet Nam, Laos and Cambodia Kyle Kelhofer said that the loan will assist the VPBank to become a leading bank serving the SMEs, support the development of the private sector and contribute to the economic development.

In 2016 and early 2017, the IFC and sponsors have provided US$158 million for VPBank with the period of five years and commercial aid of US$50 million for VPBank to help micro enterprises and businesses managed by women and export ones.

By Thuy Dung