Industrial and Commercial Bank of China contributes to USD 150 million syndicated loan to An Binh Bank for on-lending purposes

Project narrative

In December 2017, Industrial and Commercial Bank of China participated in a USD 150 million syndicated loan to An Binh Bank (Abbank) for on-lending purposes. The terms of the loan are unknown, although they were arranged by the International Finance Corporation (IFC). The first phase of the loan package was USD 110 million. IFC contributed USD 40 million, and Bangkok Bank, Industrial and Commercial Bank of China (ICBC) and Maybank contributed a total of USD 70 million. The remaining USD 40 million is to come from two unknown lenders. IFC arranged the loan in collaboration with Goldman Sachs' 10,000 women initiative. This arrangement means that one-third of the funding will go to women-owned small and medium enterprises. Abbank will use the money to triple its SME portfolio, and quadruple its lending to women-owned Vietnamese SMEs.