IFC is providing Vietnam’s Techcombank with a US$30mn loan to increase US dollar financing for small businesses involved in trade-related activities.
IFC has approved the loan under its newly-launched Vietnam small and medium enterprises liquidity facility programme, which will help to sustain the operations of small businesses amid the shortening of global credit.
“IFC is committed to improving US dollar liquidity in Vietnam’s banking sector so that banks can keep financing small businesses in today’s tight credit conditions,” says Simon Andrews, IFC’s regional manager for Vietnam, Thailand, Cambodia, and Lao PDR.
“We expect to have more partner banks participating in this programme, creating more opportunities for importers and exporters and other businesses along the supply chain.”
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