PROJECT

Projects

Summary of Investment Information

Project Number

41890

Company Name

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Date SPI Disclosed

Oct 30, 2019

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Dec 2, 2019

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Dec 11, 2019
Signed : Dec 31, 2019
Invested : Mar 31, 2020

Sector

Commercial Banking - General

Project Description

The investment is in the form of a 5-year senior loan of up to US$150 million, consisting of (i) up to US$50 million IFC A Loan from its own account, (ii) up to US$37.5 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program, and (iii) up to US$62.5 million B1 and Parallel Loans including a green-shoe option to Vietnam Prosperity Joint Stock Commercial Bank (“VP Bank” or “the Bank”). The investment aims to support the Bank grow its eligible climate-related projects and SME portfolio.                                                   

Associated Advisory Engagement

IFC and VP Bank is in discussion on IFC’s advisory services to support VP Bank build up its internal expertise in climate financing, specifically in three main areas including green loan planning, capacity building for green loan, and green loan issuance preparation.                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation