On December 6, 2024, the Japan International Cooperation Agency (JICA) signed a loan agreement with Tien Phong Commercial Joint Stock Bank (“TPBank”) of the Socialist Republic of Vietnam. The signing ceremony was held on January 14, 2024. This project will be co-financed with United States International Development Finance Corporation (hereinafter referred to as “USDFC”). The project will be co-financed with the United States International Development Finance Corporation (USDFC).
Signing Ceremony
Loan recipient
Tien Phong Commercial Joint Stock Bank
Country (region covered)
Socialist Republic of Viet Nam
Loan amount
US$120 million
Project Name
Digital Financial Inclusion Support Project
Business Objectives
This project will provide long-term loans to Tien Phong Commercial Joint Stock Bank to promote access to finance for Micro, Small and Medium Enterprise (“MSME”) and low-income groups in Vietnam, especially MSMEs, thereby contributing to sustainable economic growth. This project will promote access to finance, especially digital finance, for MSMEs and low-income groups in Vietnam by providing a long-term loan to Tien Phong Commercial Joint Stock Bank, thereby contributing to sustainable economic growth.
Business Overview
Facilitate lending to MSMEs and low-income groups through long-term loans to TPBank, with at least 30% of JICA funds to be used for digital financing for MSMEs and the remaining 70% or less to be used for non-digital MSME and low-income lending. At least 30% of the JICA loan amount will be used for loans to women-owned enterprises and low-income women.
Contribution to SDGs
Goal 8 (both job satisfaction and economic growth)
Goal 9 (Create a foundation for industry and technological innovation)
Goal 17 (Let’s achieve our goals in partnership)
Other
This project is positioned under the Financial Inclusion Promotion Facility (FAFI) established in May 2023.
© Source JICA
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