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Overview

ICBC contributes to $100 million syndicated loan to TPBank for on-lending purposes

Commitments (Constant USD, 2023)$17,610,185
Commitment Year•2018Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamOverseas Jurisdiction•Hong Kong (China)Sector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Intergovernmental Organizations

  • International Finance Corporation (IFC)
  • Managed Co-Lending Portfolio Program (MCPP) of the International Finance Corporation

Receiving agencies

Private Sector

  • TienPhong Commercial Joint Stock Bank (TPBank)

Loan description

ICBC contribution to $100 million syndicated loan to TPBank for on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

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