OCB green loan (IFC-43733)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 25, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ORIENT COMMERCIAL JOINT STOCK BANK
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 18, 2024

Disclosed by Bank Jun 30, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC's website, "the investment aims to support OCB’s lending program to small and medium enterprises (“SME”) and eligible SME climate projects in Vietnam".                                                                                                                            

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The development impact of the proposed project is delivered through (i) improved access to long-term funding to relevant stakeholders (OCB, and through them, their SME customers) which will support their capacity to expedite post-crisis recover; (ii) improved access to medium and long-term funding for SME climate projects; and (iii) promotion of financing to SMEs in Vietnam.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to the IFC, the total project cost is up to US$100 million in form of a three-year senior A loan. IFC’s loan to OCB described in this SII is targeted to support OCB’s lending program to SMEs and eligible SME climate projects in Vietnam

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, the 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 134 branches and sub-branches across key cities and provinces in Vietnam. OCB has listed its shares on Hochiminh Stock Exchange on January 28, 2021. The current main common shareholders are: Chairman Trinh Van Tuan and his related parties (18.6%) and Aozora Bank Ltd (15.0%). OCB’s shareholder structure currently consists of 3,053 domestic investors holding 80.5% and 4 foreign investors holding 19.5%.

OCB is headquartered in Hochiminh City, Vietnam. As of March 31, 2021, the Bank had 134 branches and sub-branches across Vietnam. The investment can be made throughout the country.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Information

Orient Commercial Joint Stock Bank
Le Dang Ha Phuong
Deputy Head of Financial Institutions
+84983810985
phuongldh@ocb.com.vn
Ben Nghe Ward, District 1, HCMC
www.ocb.com.vn

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works