The International Finance Corporation (IFC), a member of the World Bank Group, announced on August 11 that it will provide a 70 million USD loan to Indo Trans Logistics Corporation (ITL Corp), with the aim of improving logistics, trade and competitiveness in Vietnam’s economy amid the COVID-19 pandemic.
The International Finance Corporation (IFC) is providing $140 million in loans to VPBank and OCB to help the two banks support local businesses with disrupted cash flows sustain operations and maintain employment.
Some banks are speeding up the recovery of non-performing loans (NPLs) this year despite the impacts of the COVID-19 pandemic.
Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.
Governor of the State Bank of Viet nam Le Minh Hung has called on commercial banks to urgently simplify lending procedures to help COVID-19-affected firms easily access preferential interest rate loans.
On March 31, 2020, the State Bank of Vietnam (SBV) issued Decision No. 542/QD-NHNN revising the charter capital of the Capital Aid for Employment of the Poor Microfinance Institution Ltd. (CEP).