GWFP TTC Bien Hoa Loan (IFC-45824)

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
Approved
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
Jan 16, 2023
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
THANH THANH CONG BIEN HOA JOINT STOCK COMPANY
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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)
$ 200.00 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)
$ 40.00 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 Nov 30, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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’s website, the proposed IFC investment is a 1-year US$20 million funded participation under a risk-sharing facility of up to US$40 million uncommitted secured revolving trade finance facility with Sumitomo Mitsui Banking Corporation (“SMBC”) for Thanh Thanh Cong - Bien Hoa Joint Stock Company (“TTC Sugar”). The facility is renewable annually for additional two years.The facility will be solely dedicated to finance (i) the Company’s import of raw sugar; (ii) storage in the approved domestic warehouse(s) with a Collateral Management Agreement (“CMA”); and (iii) sales to domestic and international customers.

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

The IFC Board approved an investment amount of: 

Guarantee 50.0
Loan 150.0
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.

Headquartered in Tay Ninh Province, Vietnam, TTC Sugar is the largest producer of sugar and its by-products in Vietnam. The Company’s main products include refined sugar, raw sugar, functional sugar, liquid sugar, organic sugar, and rock sugar. The Company’s key shareholders include Thanh Thanh Cong Investment Joint Stock Company, Mrs. Huynh Bich Ngoc, and Mrs. Dang Huynh Uc My.

Headquartered in Tokyo, SMBC is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (“SMBC Group”). SMBC is one of the largest Japanese banks by assets, with strong credit ratings across its global integrated network spanning over 39 countries and regions, 15 of which are here in Asia. SMBC works across SMBC Group to offer personal, corporate, and investment banking services to meet the needs of its customers.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Thanh Thanh Cong - Bien Hoa Joint Stock Company 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.

Thanh Thanh Cong - Bien Hoa Joint Stock Company
Ms. Dinh Thi Ngoc Thao
Head of Treasury Department
+84 90 3398320
fin.dep-mgr@ttcsugar.com.vn
1st Floor, Betrimex Building, 62 Tran Huy Lieu Street, Ward 11, Phu Nhuan District, Ho Chi Minh City
ttcsugar.com.vn/Default.aspx

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

How it works

How it works