The financing comprises a 30 million USD loan from ADB’s ordinary capital resources and 50 million USD syndicated parallel loans, with 30 million USD from the Export–Import Bank of China (CEXIM), and international cooperation and 20 million USD from the ILX Fund, an Amsterdam-based asset manager focused on supporting the Sustainable Development Goals in emerging markets.

ADB acted as the mandated lead arranger and bookrunner for the entire financing.

ADB Director General for Private Sector Operations Suzanne Gaboury said by providing access to finance and tailored advisory services, its partnership with LPBank will empower women entrepreneurs in Vietnam to thrive and contribute to the country’s economic growth.

She went on to say that by working with development partners like the Export–Import Bank of China, ILX, and We-Fi, they aim to mobilise capital for private sector development that makes a meaningful difference to women-owned businesses in Vietnam.

SMEs account for 40% of Vietnam’s gross domestic product and half of all employment. Access to commercial finance is a challenge, particularly for women borrowers who often face constraints such as lack of collateral, low financial literacy, higher risk perception by banks, and limited awareness among banks of the potential of the women’s market.

The financial package will help LPBank design new products and procedures to enhance its support to WSMEs. A 750,000 USD performance-based grant funded by We-Fi will incentivise LPBank to expand its services to female borrowers and implement advisory support services for WSMEs.

LPBank Vice Chairman Le Minh Tam said that supporting SME customers in accessing capital is always an important strategy that LPBank prioritises.

With this loan package, LPBank not only has more potential in providing effective financial solutions for customers but also shows the efforts in supporting the WSME, especially where they are in great need of capital to recover from the pandemic and to further to develop their business, he added.

Bac Giang province set to become semiconductor, support industry hub

BAC GIANG – The freshly approved master plan of the northern midland and mountainous region for the 2021-2030 period, with a vision to 2050, features many important contents impacting the development of Bac Giang province.

Government’s Decree 28 supports poor households to overcome difficulties

BAC GIANG - After more than two years of implementing a preferential credit policy for ethnic minority-inhabited and mountainous areas under Decree 28 of the Government, hundreds of poor households in Bac Giang province have got loans for economic development. This capital source has helped them change occupations, have a stable income, and gradually escape poverty sustainably. 

Korea International Cooperation Agency to support Bac Giang in education

BAC GIANG - On the afternoon of May 22, Standing Vice Chairman of the Bac Giang Provincial People's Committee (PPC) Mai Son received the Korea International Cooperation Agency (KOICA) delegation led by Song EunEui, Deputy Country Director of KOICA Vietnam.

Implementing policies to support enterprises

About 81,300 enterprises registered their establishment or resumed operation in the first four months of this year, up 3% over the same period last year, according to data from the General Statistics Office under the Ministry of Planning and Investment. However, there were also 86,400 enterprises that withdrew from the market, up 12.2% over the same period last year, which is much higher than the number of newly established businesses.

Deputy PM asks for WHO's further support to improve preventive healthcare system in Vietnam

Vietnam hopes to get further support from the World Health Organisation (WHO) to restructure and consolidate its preventive healthcare system, Deputy Prime Minister Tran Hong Ha said on May 13.

Source: VNA