PROJECT

Projects

Summary of Investment Information

Project Number

31935

Company Name

ORIENT COMMERCIAL JOINT STOCK BANK

Date SPI Disclosed

Apr 30, 2012

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

May 30, 2012

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Jun 24, 2012
Signed : Jun 27, 2012
Invested : Sep 21, 2012

Sector

Commercial Banking - Short Term Finance

Project Description

The purpose of the project is to support Orient Commercial Joint Stock Bank (“OCB” or the “Bank”) in providing USD liquidity to its trade-oriented Small Medium Enterprise (“SME”) clients. The proposed investment is an IFC A loan of up to US$ 10 million with a maturity of up to 12 months, renewable twice (3 year life in total) upon the Bank fulfilling conditions of renewal. The IFC financing will enable the Bank to continue to provide financing to trade-oriented SMEs in Vietnam for their exports, imports and working-capital needs.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation