• Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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 26, 2020
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 27, 2021

Disclosed by Bank Jun 16, 2020

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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 the bank document, "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 Working Capital Solutions (WCS) Envelope. 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.

The Project is expected to be supported by the Women Entrepreneurs Opportunity Facility (“WEOF”) to incentivize on-lending of the proposed working capital loans to women and women-owned/women-led enterprises. WEOF is an initiative launched by IFC in partnership with the Goldman Sachs Foundation to help expand access to capital for women entrepreneurs in developing countries and demonstrate the commercial viability of investing in women.

The development impact of the proposed project is delivered through

(i) improved access to finance/liquidity to relevant stakeholders (VP Bank, and through them, their customers) which will support their capacity to sustain operations and to expedite post-crisis recover; and

(ii) promotion of trade finance markets and broader stability in Vietnam."

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

The total project cost is up to US$150 million, consisting 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.

IFC’s loan to VP Bank described in this SII is targeted for working capital and trade-related lending program to enterprises in Vietnam, including SMEs affected by the COVID-19 pandemic.

AIIB: up to USD100 million

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.

VP Bank was established in 1993 with its headquarter in Hanoi, Vietnam. The Bank provides commercial banking products and services to both retail and commercial clients through a nation-wide network of 227 branches, 84 SME hubs, 137 Household centers, 4 Corporate, and 649 branded ATMs and CDMs.

The current main common shareholders as of December 31, 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%). As a publicly listed entity, VP Bank has a diversified pool of more than 18,600 shareholders.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Vietnam Prosperity Joint-Stock Commercial Bank (VP Bank) Client -

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.

1/ Project Contact

Vietnam Prosperity Joint Stock Commercial Bank
Ms. Vo Hang Phuong
Head of Financial Institutions and Transaction Banking
+84 24 393 85111
89 Lang Ha Street, Dong Da District, Ha Noi, Viet Nam

2/ IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384


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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