The investment is in the form of a 3-year senior loan of up to US$100 million to invest the Bank’s lending program to SMEs and women-owned SMEs. consisting of:
(i) up to US$57.16 million IFC A Loan from its own account,
(ii) up to US$42.84 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program, to Orient Commercial Joint Stock Bank ("OCB" or "the Bank").
The development impact of the proposed project is delivered through (i) the increase of access to finance for local SMEs, including women-owned SMEs, (ii) promote competitiveness through market-wide adoption of client-centric business model based on sound risk management, including commitment to international standards in risk management and compliance to Basel 2 principles.
IFC A Loan: US$57.16 million
IFC acting as implementing entity for the Managed Co-Lending Portfolio Program o the OCB Bank: US$42.84 million
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
OCB was established in 1996 with its headquarter in Ho Chi Minh City. The Bank provides a wide range of commercial banking products and services to both retail and commercial clients through its network of 121 branches and sub-branches across 24 key cities and provinces in Vietnam. The current main common shareholders are: Chairman Trinh Van Tuan and his related parties (18.62%), and Ben Thanh Group (5.50%). OCB’s shareholder structure currently consists of 2,569 domestic investors holding 95.02% and 1 foreign investor holding 4.98%.
1/The Project Contact
Orient Commercial Joint Stock Bank
Name: Quang Thi To Loan
Title: Head of Financial Institutions
Address: Floor 15th, Vincom Center, 72 Le Thanh Ton, Ben Nghe Ward, District 1, HCMC, Vietnam
2/ The IFC Contact
General IFC Inquiries
Address: 2121 Pennsylvania Avenue, NW
Washington DC 20433
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/