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Economy

IFC, Asian banks extend loan to support Vietnam businesswomen

ABBank earmarks $45m to help bridge $1.2bn credit gap facing small business owners

HO CHI MINH CITY -- The International Finance Corp. and Goldman Sachs 10,000 Women are providing a syndicated senior loan of $110 million to Vietnam's An Binh Commercial Bank (ABBank) to stimulate lending to small and medium enterprises.

It is the first phase of a $150 million financing package to the bank arranged by the IFC, which is part of the World Bank Group. Of this, $45 million is to be exclusively earmarked for women-owned SMEs, the IFC said on Tuesday.

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