GSCF VPBank (IFC-46751)

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
Proposed
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."
Borrower
GSCF VPBank
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.
Loan Amount (USD)
$ 75.00 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)
$ 150.00 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 May 10, 2022

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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's website, "the proposed project is up to US$150 million with an IFC investment of up to US$75 million in partnership with Vietnam Prosperity Joint Stock Commercial Bank (“VPBank” or, the “Bank”) to provide supply chain finance (“SCF”) on a portfolio basis for suppliers 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 expected to be delivered through: (i) increased access to finance for supply chain of agriculture export of Vietnam, including SME suppliers and agriculture exporters, and (ii) increased integration in the market via the promotion of supply chain financing.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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, Established in 1993, VPBank is a Hanoi-headquartered commercial bank that provides a full range of banking services across all consumer groups including retail, SME, corporate, and institutional clients through a branch network of 235 branches and transaction points.

The Bank is listed on the Ho Chi Minh Stock Exchange with a market capitalization of US$6.9 billion as of January 28, 2022. The main common shareholders, as of December 31, 2021, are the Chairman Ngo Chi Dung and related persons (20.0%), Vice Chairman Lo Bang Giang and his related persons (7.4%), and Vice Chairman Bui Hai Quan and his related persons (6.6%). According to VPBank’s Annual Report 2021, VPBank investor base consists of individual investors with 73.6% holding and institutional investors with 26.4% holding. 


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.

Vietnam Prosperity Joint Stock Commercial Bank
Ms. Nguyen Thi Thanh Nga
Head of Financial Institutions Department
+84 24 7305 6600 ext: 100574
Ngantt71@vpbank.com.vn
89 Lang Ha, Dong Da, Ha Noi, Vietnam
Websitehttps://www.vpbank.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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