According to the bank document, the proposed project is delivered through
(i) improved access to finance for climate businesses and local SMEs,
(ii) capacity building through parallel advisory support,
(iii) expected reduction in GHG emissions, and
(iv) promotion of climate financing standards and best practices.
The investment is for a 5-year senior loan of up to US$150 million, consisting of (i) up to US$50 million IFC A Loan from its own account,
(ii) up to US$37.5 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program, and
(iii) up to US$62.5 million B1 and Parallel Loans including a green-shoe option to Vietnam Prosperity Joint Stock Commercial Bank (“VP Bank” or “the Bank”).
The investment aims to support the Bank to grow its eligible climate-related projects and SME portfolio.
VP Bank is headquartered in Hanoi, Vietnam. As of June 30, 2019, the Bank had 226 branches, 84 SME hubs, 137 household centers, and 4 Corporate branches across Vietnam. The investment can be made throughout the country.
VP Bank was established in 1993 with its headquarter in Hanoi, Vietnam. The Bank provides a wide range of commercial banking products and services to both retail and commercial clients through a nation-wide network of 226 branches, 84 SME hubs, 137 Household centers, 4 Corporate, and 649 branded ATMs and CDMs. The current main common shareholders as of June 30, 2019 are: Chairman Ngo Chi Dung and his related persons (14.96%), Vice Chairman Lo Bang Giang and his related persons (7.5%), and Vice Chairman Bui Hai Quan and his related persons (6.68%). According to its annual report 2018, VP Bank has 176 institutional and 18,571 individual investors.
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1/ The Project Contact
Vietnam Prosperity Joint Stock Commercial Bank
Name: Ms. Vo Hang Phuong
Title: Head of Financial Institutions and Transaction Banking
Tel: +84 24 393 85111
Address: No.89 Lang Ha Street, Dong Da District, Ha Noi, Viet Nam
2/ IFC Contact
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
ACCOUNTABILITY MECHANISM OF IFC
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