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ICBC contributes to $100 million syndicated loan to TPBank for on-lending purposes
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | TienPhong Commercial Joint Stock Bank (TPBank) |
| Country | Viet Nam |
| Start Date | Jul 01, 2018 |
| End Date | Nov 30, 2028 |
| Duration | 3,805 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 96778 |
Grant Description
ICBC contribution to $100 million syndicated loan to TPBank for on-lending purposes In July 2018, Industrial and Commercial Bank of China (Hong Kong) (ICBC) participated in a USD 100 million International Finance Corporation (IFC) syndicated loan to TienPhong Commercial Joint Stock Bank (TPBank).
The loan was made through IFC’s B Loan Program, under which IFC is the sole contractual lender to TPBank, although the funds were sourced from ICBC.
ICBC contributed USD 17.5 million, IFC contributed USD 60 million from its own account, and USD 22.5 million from the Managed Co-Lending Portfolio Program (MCPP), a debt fund managed by IFC on behalf of multiple institutional investors. The terms of the loan are unknown.
The purpose of the loan was to increase TPBank's long-term on-lending capabilities to micro, small and medium enterprises, and individual borrowers through digital delivery channels
Sources & References
- MICROCAPITAL BRIEF: Industrial and Commercial Bank of China (ICBC) Supports $100m IFC Loan to TienPhong Commercial Joint Stock Bank (TPBank) to Boost Digital Financial Services in Vietnam
- IFC Arranges a Loan of $100 Million for TPBank to Promote Digital Financial Services to MSMEs in Vietnam Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
TienPhong Commercial Joint Stock Bank (TPBank)
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