DFC pledges $300mn bilateral loan to Vietnam’s VPBank to promote sustainable finance

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and the U.S. International Development Finance Corporation (DFC) on Sunday inked a Commitment Letter on a bilateral loan worth US$300 million with a seven-year tenor. The ceremony for the Commitment Letter signing between DFC and VPBank was held at the bank’s headquarters in Hanoi on Sunday morning, witnessed by U.S. DFC, the U.S. government’s development finance institution, was established in 2019 under the Better Utilization of Investments Leading to Development (BUILD) Act and focuses on bringing private capital to the developing world. Scott Nathan, CEO of the U.S. International Development Finance Corporation (DFC), speaks at the ceremony for the Commitment Letter signing between DFC and VPBank at the bank’s headquarters in Hanoi, Vietnam, September 10, 2023. Prior to the loan extended by DFC, VPBank has been able to secure a number of large-sized syndicated loans worth over a billion dollars since 2020 from reputable lenders worldwide.