PROJECT

Projects

Summary of Investment Information

Project Number

45929

Company Name

VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK

Date SPI Disclosed

Apr 21, 2022

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

May 31, 2022

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Oct 30, 2022

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 29, 2022
Signed : Jun 30, 2022
Invested : Oct 27, 2022

Sector

Commercial Banking - Housing Finance

Project Description

 The proposed investment in Vietnam International Commercial Joint Stock Bank (“VIB” or the “Bank”) is a senior loan package of up to US$300 million comprising of: (i) an A Loan, of up to US$ 150 million with a tenor of 5 years, (ii) mobilization of up to US$150 million with a 3-year tenor (B1 Loan and/or Parallel Loans); to support the growth of the Bank’s housing portfolio (the “Project”). At least 30% of the loan proceeds will be used for affordable housing.

 

In the event of an oversubscription, IFC and the Bank reserve the right to increase B1 Loan and/or Parallel Loan amount. The increased amount and the use of the proceeds will be mutually agreed by IFC and the Bank.

Associated Advisory Engagement

 This investment is not associated with any advisory services.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation