Overview

ICBC participates in $185 million syndicated loan to Vietnam International Commercial Joint Stock Bank for on-lending purposes

Commitments (Constant USD, 2023)$30,150,247

Commitment Year•2017Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 15, 2017

Last repayment: Nov 14, 2022

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)

Private Sector

Cathay United Bank

State-owned Commercial Banks

Kiatnakin Phatra Bank Thailand

Receiving agencies

Private Sector

Vietnam International Commercial Joint Stock Bank

Loan desecription

ICBC participation $185 million syndicated loan to Vietnam International Commercial Joint Stock Bank for on-lending purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On November 15, 2017, the Industrial and Commercial Bank of China (ICBC) signed a $185 million syndicated loan agreement with Vietnam International Commercial Joint Stock Bank (VIB). The loan had a term (maturity of five years, but its interest rate is unknown. The syndicate was arranged by the International Finance Corporation (IFC), which contributed $100 million. Cathay United Bank, ICBC, and Kiatnakin Bank Public Company Ltd contributed a total of $85 million. VIB planned to use the loan proceeds to on-lend to micro, small, and medium enterprises and to increase the stock of affordable housing in Vietnam.

Staff comments

1. AidData assumes equal contributions from all participants in a syndicate. USD 85 million divided by 3 lenders is USD 28.33 million per contributor.