PROJECT

Projects

Summary of Investment Information

Project Number

44006

Company Name

VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Date SPI Disclosed

Jun 16, 2020

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Jun 19, 2020

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jul 13, 2023

Department

CF4S4 - Regional Industry - FIG Asia & Pac/FIG Inv Ops East Asia & Pacific

Industry

Financial Markets

Previous Events

Approved : Jun 26, 2020
Signed : Jun 30, 2020
Invested : Aug 4, 2020

Sector

Commercial Banking - Trade and Supply Chain

Additional Project Attributes

Blended Finance

Project Description

The proposed investment consists of a one-year, renewable senior loan of up to US$150 million to Vietnam Prosperity Joint Stock Commercial Bank (“VP Bank” or “the Bank”) under the FIG COVID-19 Emergency Response WCS Envelope. The investment consists of: (i) up to US$100 million IFC A Loan from its own account, and (ii) up to US$50 million B1 Loan and/or Parallel Loan including a green-shoe option. The investment aims to support VP Bank's working capital and trade-related lending program to enterprises in Vietnam, including SMEs affected by the COVID-19 pandemic.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation