PROJECT

Projects

Summary of Investment Information

Project Number

42040

Company Name

HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK

Date SPI Disclosed

May 11, 2021

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Jun 11, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Mar 3, 2022

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 14, 2021
Signed : Dec 22, 2021
Invested : Mar 1, 2022

Sector

Commercial Banking - General

Project Description

International Finance Corporation (“IFC”) is considering providing a 5-year loan of up to US$70 million to Ho Chi Minh City Joint Stock Commercial Bank (“HDBank” or the “Bank”). Through the investment, IFC will support HDBank in raising long term funding for its lending program to eligible solar power plants and solar rooftop projects in Vietnam (the “Project”).

In addition, IFC is considering establishing a trade finance guarantee facility for the Bank in the amount of US$40 million under the IFC Global Trade Finance Program (“GTFP”).  

Associated Advisory Engagement

N/A                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation