DFC to boost financial inclusion in Vietnam

January 03, 2025 | 16:22

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The US International Development Finance Corporation (DFC) approved 22 new transactions for the first quarter of 2025 on January 2, including a loan to Southeast Asia Commercial Joint Stock Bank (SeABank).

DFC to boost financial inclusion in Vietnam

The DFC’s board of directors approved a $100 million loan to SeABank to increase access to finance and support economic empowerment across Vietnam.

The loan will expand upon $200 million in DFC financing committed in 2022 to SeABank to support individual entrepreneurs, small businesses, and climate adaptation and mitigation projects, with a focus on women borrowers and women-owned businesses.

Besides SeABank, in 2023, DFC has committed to grant more than $400 million in new financing to help expand access to finance for two major Vietnamese banks, VPBank and TPBank. These investments should bolster lending to small businesses across the country, including those owned by women, a group that has often faced significant challenges accessing finance.

Vietnam is the biggest recipient of DFC’s investments in ASEAN, with $737 million, followed by $526 million in Indonesia, and $80 million in the Philippines.

Globally, 22 new transactions, totalling nearly $3 billion, will advance key DFC priorities to promote health, energy, and food security; address the root causes of migration; revitalise critical infrastructure; support small businesses; and address other strategic and developmental imperatives in line with US foreign policy objectives.

DFC pledges $300-million bilateral loan to VPBank for sustainable finance

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and the US International Development Finance Corporation (DFC) inked a Commitment Letter on a bilateral loan worth $300 million with a seven-year tenure.

DFC to grant $100 million loan to TPBank

TPBank, one of Vietnam’s leading commercial banks, has announced the signing of a letter of commitment for a $100 million loan with a 7-year term from the US government’s Development Finance Corporation (DFC).

DFC mulls $500 million loan to VinFast for lithium-ion battery facility

On December 3, the United States International Development Financial Corporation (DFC) and VinFast Auto (Nasdaq: VFS) signed a letter of Interest (LOI) to consider a formal application by VinFast for a $500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam.

By Thanh Van

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