IFC, HDBank in tie-up to help SMEs scale up finance, enter global supply chains
The International Finance Corporation (IFC) and the Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) signed a memorandum of understanding on May 11 to become strategic partners for helping small and medium enterprises scale up finance and participate in global supply chains, including high-tech agricultural chains.
IFC and HDBank sign an MoU on May 11 in the US in the presence of visiting Prime Minister Pham Minh Chinh. (Photo: VNA)
Hanoi(VNS/VNA) - The International Finance Corporation (IFC) and the Ho Chi MinhCity Development Joint Stock Commercial Bank (HDBank) signed a memorandum ofunderstanding on May 11 to become strategic partners for helping small andmedium enterprises scale up finance and participate in global supply chains,including high-tech agricultural chains.
The signingtook place during the visit to the US by Prime Minister Pham Minh Chinh, who isleading a Vietnamese delegation to the US – ASEAN Special Summit in WashingtonD.C.
The tie-up isexpected to help HDBank build a supply chain finance (SCF) portfolio of 1billion USD in the next three years, thereby growing its SCF portfolio –currently active in sectors like construction materials, agribusiness, FMCG,supporting industries, and downstream petroleum distribution.
The IFC willhelp it design an SCF strategy for the agricultural sector, broaden its SCFproducts – especially supplier and distributor financing – and bring on boardanchor firms along with their suppliers and distributors, among others.
HDBank CEO PhamQuoc Thanh said: “SCF that links buyers, suppliers and financial institutionswill efficiently support trade cycles. IFC’s timely support will enable localbusinesses to leverage emerging trade opportunities and improve their linkagesto formal supply chains, contributing to Vietnam’s economic growth.”
Stephanie vonFriedeburg, IFC’s first Senior Vice President, Operations, said: “Small andmedium enterprises are the backbone of the economy and essential to Vietnam’sgoal of becoming a manufacturing hub in the region.
“IFC’s supportto domestic financial institutions such as HDBank will contribute to increasingSMEs’ linkages with global supply chains and open up opportunities fordevelopment and job creation.”
On April 14the IFC granted HDBank a trade finance limit of 40 million USD within theframework of the Global Trade Finance Programme to enhance its trade financepayment risk guarantee capacity, mainly for SMEs.
In 2021 itprovided a long-term loan of 70 million USD to HDBank to support renewableenergy businesses.
It also bought95 million USD worth of international convertible bonds issued by HDBank tosupport increased lending to micro, small and medium enterprises.
The totalvalue of commitments and cooperation between the IFC and HDBank has exceeded 200million USD and is expected to keep increasing./.
After four months, the International Finance Corporation (IFC) and international lenders increased the loan package granted to Southeast Asia Commercial Joint Stock Bank (SeABank), from 150 million USD to 220 million USD in order to maintain the cooperation with SeABank in re-financing SMEs, women-owned businesses and the climate.
Vietnam’s T&T Group and Singapore’s YCH Group have inked a deal with the International Finance Corporation (IFC) on project development to attract capital funding for their inland container depot (ICD) logistics centre in northern Vinh Phuc province.
The International Finance Corporation (IFC) will continue its support to Vietnam, especially in green growth, climate change response and increasing productivity in the private sector, IFC Vice President for Asia and Pacific Garcia Mora pledged on April 15.
Overcoming many bright candidates from the East Asia - Pacific region, VPBank has just been honoured by the International Finance Corporation (IFC) as the "Best Digital Bank" in 2021.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
IFC and HDBank sign an MoU on May 11 in the US in the presence of visiting Prime Minister Pham Minh Chinh. (Photo: VNA) 
