The $125 million loan is the largest a foreign organization has granted a local commercial bank this year. The financing arm of the World Bank has recently approved a loan package worth $125 million for Vietnamese commercial bank of VPBank to help micro and small and medium enterprises, export firms and businesses run by women. The finance package for VPBank is the largest loan the International Finance Corporation (IFC) has granted a Vietnamese bank this year. The package includes a five-year syndicate loan of $100 million from the IFC and a trade guarantee of up to $25 million. The long-term loan will be divided into two contracts worth $50 million each. The first loan contract was signed in August between IFC and Cathay United Bank, the co-providers. The second will be signed in the fourth quarter of 2016.
