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.
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 aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.
This is IFC’s first green loan to a bank in Vietnam.
This is the largest commercial loan that the Asian Development Bank has provided to an Asian commercial bank so far.
Two accounting systems results in a lack of transparency and it is also the shortest path leading to the devaluation of firm during future mergers and acquisitions (M&A) or initial public offering (IPO).
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.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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