DongA bank join IFC’s financial support programme

August 30, 2012 | 18:08

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The DongA Commercial Joint Stock Bank (DongA Bank) will join the International Finance Corporation (IFC) in a joint global financial support programme to help more businesses access capital.

Under the contract signed between the two sides in Ho Chi Minh City on August 29, IFC will provide a guarantee worth $20 million to DongA Bank to ensure the bank’s obligation to beneficiary banks worldwide.

At the signing ceremony, Simon Andrews, IFC Regional Director for Vietnam, Cambodia, Laos and Thailand, and Tran Phuong Binh, General Director of DongA Bank, expressed their hope that the contract will contribute to supporting businesses and creating links between the two sides for mutual development in the future.

DongA Bank will also have a chance to cooperate with many long established regional and global banks. The bank can provide floating capital to enterprises, mainly in the field of export and import.

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