ICBC contributes to $100 million syndicated loan to TPBank for on-lending purposes
Commitment amount
$ 19072370.58787684
Adjusted commitment amount
$ 19072370.59
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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
Number of official sources
1
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
International Finance Corporation (IFC) [Intergovernmental Organization]
Managed Co-Lending Portfolio Program (MCPP) of the International Finance Corporation [Intergovernmental Organization]
Direct receiving agencies [Type]
TienPhong Commercial Joint Stock Bank (TPBank) [Private Sector]