News
12/09/2023
As the first financial institution in Vietnam to receive a loan of up to $200 million from the United States International Development Finance Corporation (DFC), Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) has effectively utilized this capital to maximize support for businesses led by women and small and medium-sized enterprises (SMEs).
DFC, an independent agency of the United States government, specializes in providing financing for strong financially-backed private development projects in developing countries. DFC prioritizes economic and financial sustainability, as well as the development objectives of its partners' projects. Recent projects approved by DFC aim to enhance the socio-economic development of developing countries, with a particular focus on food security, climate change, gender equality, and improving financial access.
After receiving disbursement from DFC, SeABank efficiently utilized the funds by its commitments and provided support to numerous businesses, especially small and medium-sized enterprises (SMEs) to expand their production and promote economic development. The bank extended loans with preferential terms and enhanced financial accessibility for SMEs, with a special focus on enterprises led by women, and retail customers, including individual business owners.
Through this, many businesses have had sufficient capital to expand their operations, thereby driving economic growth. Additionally, these businesses will also have the capability to improve their environmental systems, technologies, and processes, thereby reducing carbon emissions in their production and operations. Furthermore, SeABank has also provided funding for projects related to energy conservation and promoted green economic projects in Vietnam.
With the partnership of DFC, SeABank aims to continue providing optimal financial solutions, particularly to women-led businesses, empowering them to further expand their operations and contribute to sustainable development. This not only adds value to the banking sector but also contributes to the overall economic growth of Vietnam.