IFC commits investment of nearly $1.9bn for Vietnam

September 07, 2023

The total commitments of the International Finance Corporation (IFC), a member of the World Bank Group, in Vietnam reached nearly US$1.9 billion for the fiscal year 2023, including $520 million earmarked in long-term finance. IFC's investment and advisory programs addressed core challenges for Vietnam, including climate change, food security, trade barriers, and housing finance gaps, helping local companies recover from the COVID-19 pandemic and navigate challenging internal and external environments. The majority of the $520-million long-term funding increased lending to small and medium enterprises, including women-owned businesses, and supported lower and middle-income homebuyers. Up to date, IFC has pledged over $900 million in long-term finance to support climate-related projects in the Southeast Asian nation. IFC has focused on facilitating climate business markets and building capacity for local businesses to grasp opportunities in the climate space.

The source of this news is from Tuoi Tre News