It is the first local currency sustainability-linked bonds of Vietnam, issued by two subsidiaries of BIM Group, a multi-sector corporation in Vietnam.
IFC’s total commitments in Vietnam reached close to $1.9 billion in fiscal year 2023 ending June 30, of which $520 million was in long-term finance. It make Vietnam becomes one of five Asia – the Pacific countries having largest investment from IFC.
As Vietnam accelerates economic recovery amid Covid-19, IFC, LeapFrog Investments, and DEG have invested $165 million in convertible Tier 2 bonds issued by HDBank, a leading Vietnamese private retail and SME bank.
As Vietnam accelerates efforts to transition to low-carbon growth, IFC is providing a $70 million loan to HDBank – one of the country’s leading banks in climate finance – to increase its funding for renewable energy projects in Vietnam.
The aim is to increase the province’s waste treatment capacity and reduce its environmental footprint while protecting residents from health risks associated with untreated waste.
Managing used plastic as a valuable resource provides a sound business case for scaling up recycling and other plastic circularity efforts, while promoting sustainable economic development, according to IFC – World Bank study.
After the deal, IFC and major strategic shareholder HDI Global SE will hold more than 54 per cent of the voting rights in PVI Holdings.
With IFC’s support, OCB expects to double its SME lending portfolio by 2024 by leveraging its digital banking platform and developing products that cater to the sector’s needs.
To support local businesses and help them make a resilient recovery after the Covid-19 pandemic, IFC is providing a $40 million loan to Southeast Asia Commercial Joint Stock Bank (SeABank).
REE expands its footprint in renewable energy, it is looking for long-term US dollar-based financing that is not readily available in the local market.
This is BIM Land's first offshore bond issue after it borrowed about $140 million from IFC and Credit Suisse in 2019.
Thousands of micro, small, and medium enterprises, and millions of farmers across Asia and the Pacific stand to benefit from the first phase of Covid-19 crisis response funding from IFC, a member of the World Bank Group.
The funding will help ITL transform and grow by acquiring new assets, developing new warehouses and facilities, and deploying advanced information technology systems.
The aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.
