Jakarta: The Asian Development Bank (ADB) has signed an agreement with Southeast Asia Commercial Joint Stock Bank (SeABank) under the Trade and Supply Chain Finance Program (TSCFP) to support trade in Vietnam by providing loans and other credit facilities.
ADB will provide guarantees and revolving loans to help SeABank build relationships with global commercial banks. TSCFP now works with 14 commercial banks in Vietnam.
"This further demonstrates our commitment to supporting trade in Vietnam," said Investment Specialist and Relationship Manager at ADB’s Trade and Supply Chain Finance Program Can Sutken in a press release on Wednesday.
"We are delighted to team with SeABank to support its many small-and medium-sized enterprise (SME) customers," the ADB official stated.
Since 2004, TFSCP has supported $13.5 billion in commercial activities through 13,530 transactions covering both guarantee and direct funding in Vietnam, 63% of them related to SMEs. Since 2009 the program has supported approximately 20,000 SMEs in developing Asia through more than 26,000 transactions valued at more than $41 million, in sectors ranging from commodities and capital goods to medical supplies and consumer goods.
Backed by ADB's AAA credit rating, TSCFP provides loans and guarantees to more than 200 partner banks to support trade, creating import and export opportunities for enterprises across -Asia-Pacific.
Established in 1994, SeABank is one of the leading joint stock commercial banks in Vietnam with nearly 1.3 million customers, more than 4,000 employees and nearly 170 transaction points nationwide.
Cek Berita dan Artikel yang lain di Google News
FOLLOW US
Ikuti media sosial medcom.id dan dapatkan berbagai keuntungan
