IFC increases loan package for SeAbank to 220 million USD
After four months, the International Finance Corporation (IFC) and international lenders increased the loan package granted to Southeast Asia Commercial Joint Stock Bank (SeABank), from 150 million USD to 220 million USD in order to maintain the cooperation with SeABank in re-financing SMEs, women-owned businesses and the climate.
A customer at a SeABank branch in Hanoi. (Photo photo courtesy of SeaBank)
Hanoi (VNS/VNA) - After four months, theInternational Finance Corporation (IFC) and international lenders increased theloan package granted to Southeast Asia Commercial Joint Stock Bank (SeABank),from 150 million USD to 220 million USD in order to maintain the cooperationwith SeABank in re-financing SMEs, women-owned businesses and the climate.
This funding package enables SeABank to better supportbusinesses, narrow the financial gap and ensure sustainable development.
In the strategic roadmap to support women-ownedbusinesses, SeABank has adopted preferential policies, includingdiversification of corporate credit granting with a competitive loan to valueratio and free digital service packages to support businesses in digitaltransformation.
"Supporting SMEs and women-owned businesses hasalways been a part of SeABank's development strategy. Given the COVID-19pandemic, SeABank takes this as one of its responsibilities in order tocontribute to the general economic recovery. Receiving additional funds fromIFC and major international lending institutions demonstrated SeABank's abilityto access international capital to support businesses, especially SMEs andwomen-owned enterprises. The additional capital will assist SeABank tostrengthen its capability to support the growth of women-owned businesses aswell as develop gender-smart action plans and intervention in line with theBank strategy," said Le Thu Thuy, General Director of SeABank.
In addition, SeABank is also committed tokeeping seeking and financing green buildings and resource-efficient projectsin alignment with the advice of IFC to help reduce greenhouse gas emissions,establish a consistent system for managing environmental, social and governancerisks, strengthen the capacity to assess and manage environmental and socialrisks, support the sustainable development of the bank as well as help theexpansion of its green project financing portfolio./.
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A customer at a SeABank branch in Hanoi. (Photo photo courtesy of SeaBank) 
