en-USvi-VN
Language
Search
× Search
Thursday, March 28, 2024

News

News

$25 million to sponsor businesses with female "boss"

The Asian Development Bank (ADB) on January 11 signed a 25 million USD loan with Tien Phong Commercial Joint Stock Bank (TPB) to enhance financial access for small and medium enterprises. and women-owned and led small businesses (WSME) in Vietnam. The project is also co-financed with $25 million from the German Development and Investment Fund (Deutsche Investments-und Entwicklungsgesellschaft mbH - DEG).

This loan is accompanied by a $750,000 technical assistance grant to help TPB better meet the needs of WSMEs. The grant will be used to build TPB's WSME lending capacity, recruit staff, and enhance services for female clients. It will also allow TPB to use digitized systems to analyze the underserved WSME market. The grant is funded by the Women Entrepreneurs Finance Initiative (We-Fi).

“We are delighted to partner with TPB and We-Fi to support WSMEs, which are key channels for growth,” said Ms. Suzanne Gaboury, Director General of ADB's Private Sector Operations Department. women's participation in Vietnam's economic development The Covid-19 pandemic has severely impacted many businesses, and initiatives like these loans and grants will specifically support these efforts. underserved female customers by helping TPB develop systems and processes to improve access to finance for these populations."

As of 2018, the majority of enterprises in Vietnam are classified as small and medium enterprises, contributing 38% of jobs nationwide and generating 40% of gross domestic product. But their access to finance remains a challenge, with only 37% of micro, small and medium-sized businesses able to borrow money from banks, according to a 2017 study.


TPB's CEO, Mr. Nguyen Hung, commented: "The goals of ADB, DEG and TPB are completely consistent, especially in supporting WSMEs. We will continue to build on our strengths in this area. digital banking sector to tailor products and services to WSMEs and plans to strengthen supply chain financing and support services, liquidity and digital banking products to Reach underserved customers.

We-Fi is a collaborative partnership fund between 14 governments, 8 multilateral development banks, and other public and private sector stakeholders, led by the World Bank Group.

ADB is committed to a prosperous, inclusive, resilient, and sustainable Asia and Pacific region, while sustaining efforts to eradicate extreme poverty. Established in 1966, ADB is owned by 68 members, including 49 regional members.

Previous Article Stories about "female generals" – Women Entreprenuers born on March 8
Next Article The start-up story of Cao Viet Packaging Printing Company with CEO Tran Thi Binh's teacher-background
Print
6824 Rate this article:
No rating

Please login or register to post comments.

Name:
Email:
Subject:
Message:
x

Calendar

«March 2024»
MonTueWedThuFriSatSun
26272829123
45678910
11121314151617
18192021222324
25262728293031
1234567

AGENCY For ENTERPRISE DEVELOPMENT

Ministry of Planning and Investment

No. 6B, Hoang Dieu street, Ba Dinh district, Hanoi City.

Vietnam CWE Project Team

KEEP FOLLOWING US

Terms Of UsePrivacy StatementCopyright 2024 by Agency for Enterprise Development
Back To Top