HO CHI MINH CITY -- The International Finance Corporation is investing $100 million into Vietnamese lender SeABank to provide loans for affordable homes in a market that offers plenty of luxury condos but not enough cheaper units to meet demand.
The IFC is targeting low- and middle-income borrowers in the fast-growing economy, which requires 374,000 new homes a year, the World Bank arm said on Tuesday. But the investment does not address the more chronic problem of supply in Vietnamese real estate.
