PROJECT

Projects

Summary of Investment Information

Project Number

43986

Company Name

ORIENT COMMERCIAL JOINT STOCK BANK

Date SPI Disclosed

Jun 29, 2020

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Jun 30, 2020

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 19, 2021

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 29, 2020
Signed : Jun 30, 2020
Invested : Jul 15, 2020

Sector

Commercial Banking - Trade and Supply Chain

Project Description

The investment consists of a one-year, renewable senior loan of up to US$40 million to Orient Commercial Joint Stock Bank (“OCB” or “the Bank”) under the FIG COVID-19 Emergency Response WCS Envelop. The investment aims to support OCB’s working capital and trade-related lending program to small and medium-sized enterprises (“SMEs”) in Vietnam, which have been adversely by the impacted by COVID-19 pandemic. IFC’s investment will provide wholesale liquidity to OCB to facilitate the Bank’s on-lending of the proceeds towards SMEs.

Associated Advisory Engagement

This investment is not associated with any advisory services

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation