The signing ceremony of the Financial Arrangement Commitment between DFC and VPBank was solemnly held at VPBank's headquarters in Hanoi on the morning of September 10, 2023, witnessed by the US Ambassador to Vietnam - Mr. Marc Knapper, US Special Presidential Envoy for Climate - Mr. John Kerry, DFC CEO - Mr. Scott Nathan, and VPBank Chairman of the Board of Directors - Mr. Ngo Chi Dung, along with many senior leaders of the two organizations.
Mr. Scott Nathan - General Director of DFC shared at the event
The US International Development Finance Corporation (DFC) is a US government financial institution, established in 2019 under the US Investment Resources Act and focused on bringing private resources to developing regions. DFC's mission is to advance US foreign policy and promote private sector development investment.
The signing ceremony between DFC and VPBank took place within the framework of the official visit of US President Joe Biden to Vietnam from September 10 to 11, 2023, on the occasion of the two countries celebrating the 10th anniversary of the establishment of the Comprehensive Partnership, which is a testament to the increasingly close cooperation between the two countries in many fields.
VPBank's receipt of financial support commitment from DFC - a development organization under the US government with international standards and a prudent credit appraisal process - has once again affirmed VPBank's position as Vietnam's leading private bank.
The USD 300 million loan is worth VND 7,200 billion, with a term of 7 years. The loan will be an important additional source of finance to help VPBank strengthen its capital base to further promote sustainable finance activities in line with the bank's development strategy, including supporting SMEs, women-owned SMEs and shifting its investment portfolio to activities against climate change and low-carbon technologies in Vietnam.
Representatives of DFC and VPBank leaders signed a bilateral loan commitment worth 300 million USD
Over the years, VPBank has always been one of the market leaders in environmental, social and climate contributions in Vietnam, through building and acting according to a consistent sustainable financial development strategy and a clear awareness of responsible lending principles.
Prior to the loan provided by DFC, VPBank has continuously successfully mobilized many large-scale international sustainable finance loans, with a total value of more than 1 billion USD since 2020. Specifically, at the end of 2022, VPBank successfully mobilized a syndicated loan worth 500 million USD from 5 reputable financial institutions: Asian Development Bank (ADB), Sumitomo Mitsui Banking Corporation (SMBC), Japan International Cooperation Agency (JICA), ANZ Bank and Maybank Securities Pte. Ltd.
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