ADB, VPB sign 500 million USD loan package for women-owned SMEs

(VOVWORLD) - The Asian Development Bank (ADB) and Vietnam Prosperity Bank (VPB) signed a loan package of 500 million USD on Friday to expand access to finance for women-owned enterprises (WSMEs) and social loan projects in Vietnam.

The financing includes a 100 million USD loan from ADB’s regular funds dedicated to women-owned SMEs and a 300 million USD parallel syndication loan.

The financing package also includes a 100 million USD fund co-financed by the Japan International Cooperation Agency (JICA) and Sumitomo Mitsui Banking Corporation (SMBC) signed last October.

Eligible projects include loans to MSMEs and WSMEs, support for public and private healthcare products and services, development of public and private educational facilities, and support for affordable housing.

The financial package will help VPB design new products and procedures to enhance its support for WSMEs.