TPBank receives $220 million loan from DFC and JICA

TPBank received a credit facility worth a total of 220 million USD from two large organizations, DFC (USA) and JICA (Japan), promoting finance for small and medium enterprises, especially women-owned enterprises and low-income customers in Vietnam.

On the afternoon of January 14 in Hanoi , Tien Phong Commercial Joint Stock Bank (TPBank) has just successfully implemented an important step in its development strategy with the signing ceremony of a long-term loan with a total value of 220 million USD from two prestigious international partners: the US International Development Finance Corporation (DFC) and the Japan International Cooperation Agency (JICA). This loan not only contributes to the sustainable growth of TPBank, but also strongly supports small and medium enterprises (MSMEs), the business community owned by women in Vietnam and low-income customers.

The $220 million credit, including $100 million from DFC and $120 million from JICA, will be used by TPBank to implement flexible financial programs and enhance digital capacity. The loan is expected to create opportunities for thousands of small and medium-sized enterprises and low-income customers, helping them increase production capacity, expand scale and improve competitiveness in the global economy . Part of the loan will be invested in projects led by women or having a positive impact on women's communities, to promote gender equality and enhance the role of women in economic development.

In addition, TPBank also focuses on developing digital financial products, increasing financial access to remote areas where people still have difficulty using traditional banking services. The loan will contribute to the development of TPBank's digital lending channels, helping borrowers access financial services more quickly, conveniently and effectively. TPBank expects this to contribute to promoting the sustainable development of the small and medium-sized enterprise sector, while expanding financial opportunities for customers who do not have access to traditional financial sources.

Speaking at the event, Mr. Do Anh Tu, Vice Chairman of TPBank's Board of Directors, shared: " Promoting sustainable development, TPBank always focuses on and pays great attention to small and medium enterprises, enterprises with women leaders and low-income communities. This loan is a great opportunity for TPBank to promote economic development, contributing to the country's sustainable development goals. We will continue to expand digital financial products and increase financial accessibility, thereby bringing direct benefits to customers and the economy ."

“ DFC is honored to partner with TPBank in expanding access to digital finance for financially challenged businesses, especially women-owned businesses and low-income customers in Vietnam,” said Maria Goravanchi, Managing Director of the Lower Mekong Region, DFC. “Through this transaction, we hope to contribute to unlocking much-needed capital for small businesses and promoting inclusive and sustainable growth. This is also DFC’s goal, as we are committed to supporting small businesses in creating practical solutions that contribute to long-term economic development .”

Mr. Yuichi Sugano, Chief Representative of JICA Vietnam Office emphasized: “ We are confident that this project will contribute to promoting financial inclusion for small and medium enterprises (MSMEs) as well as low-income people in Vietnam. TPBank’s digital financial products will be an important key, helping to improve the effectiveness in implementing the strategies and policies of the Vietnamese Government. Moreover, we believe that this project will create a positive impact, promoting the digital transformation process in the financial sector of Vietnam in general .”

The USD 220 million loan from DFC and JICA is not only an important step in TPBank’s development strategy but also a strong mark in promoting financial inclusion in Vietnam. With the support of DFC and JICA, TPBank will continue to develop digital financial products, creating new opportunities for the business community and people, contributing to the comprehensive and long-term development of the country.

Tien Phong Commercial Joint Stock Bank (TPBank) is one of the leading commercial banks in Vietnam, with a commitment to always be at the forefront of developing modern financial services that are suitable to customers' needs. TPBank constantly innovates and applies digital technology to bring optimal products and services, enhancing customer experience.

The US International Development Finance Corporation (DFC) is the development finance institution of the US Government, providing loans, credit guarantees and investment support to developing countries.

The Japan International Cooperation Agency (JICA) is a Japanese government organization that provides financial and technical assistance to partner countries, helping to promote sustainable development and improve the quality of life.

Source: https://congthuong.vn/tpbank-nhan-khoan-vay-220-trieu-usd-tu-dfc-va-jica-369701.html