IFC, a member of the World Bank Group, and the two funds managed by IFC Asset Management Company are investing up to $65 million in Altus Special Situations Asia 1 LP to support distressed companies in East Asia, especially Vietnam and Indonesia.
Lack of management capacity from broad strategies to specific plans is the main factor that has hindered Vietnamese enterprises in joining the global supply chain, according to international experts.
IFC's investment in VietinBank increased more than two times in local currency VND after seven years.
Tan Long Group, a market leader in agricultural products trading, currently received a trade finance of up to $50 million from IFC and VPBank.
Several local investment promotion agencies still lack a lot of information on investment appraisals and the current assessments of provinces are mainly based on personal experience rather than following a standard.
Despite the growth in FDI inflow in recent year, there is a growing realization that Vietnam requires breakthrough reforms to compete for higher quality streams of FDI.
IFC’s long-term funding commitment is expected to enable TPBank to double its micro, small and medium enterprises portfolio over the next five years, providing more than $1.8 billion in about 46,000 loans by 2022.
The financing package of International Finance Corporation (IFC) aims to address two key development challenges in Vietnam - the financing gap faced by micro, small and medium enterprises (SMEs) and the lack of affordable housing.
Rubin Japhta, Senior Operations Officer on Banking on Women/ SME (Small and Medium Enterprise) Banking of International Finance Corporation (IFC) sai that the financing gap is estimated at US$1.19 billion for women-owned SMEs.
The International Finance Corporation (IFC) currently hold 10% stake in An Binh Commercial Joint Stock Bank (ABBank), one of the banks having stable and sustainable development.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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