HDBank signs MOU with IFC to build supply chain finance portfolio

HDBank hopes to build a supply chain finance portfolio of $1b over the next three years.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and the International Finance Corporation (IFC) have signed a memorandum of understanding (MOU) to support small and medium enterprises (SMEs).

According to a press release, the partnership will see the two help SMEs scale up finance and participate in global supply chains, including financing the high-tech agricultural chain.

This cooperation is expected to help HDBank build its supply chain finance (SCF) portfolio of $1b in the next 3 years.

IFC will reportedly assist HDBank in designing a SCF strategy for the agricultural sector, broaden its SCF products – especially supplier and distributor financing – and bring onboard anchor firms along with their suppliers and distributors, among others.

Previously, on 14 April 2022, IFC granted HDBank a trade finance limit of $40m within the framework of the Global Trade Finance Program (GTFP) to enhance payment risk guarantee capacity in trade finance for domestic enterprises, mainly SMEs.

Earlier in 2021, IFC provided a long-term loan of $70m to HDBank to support the renewable energy business.

As of this new partnership, the total value of commitments and cooperation between IFC and HDBank has reached more than $200m.

Follow the link for more news on

HDBank, IFC MOU

Also Read

Property malaise weighs on China and Korean banks

Superapps to help drive BNPL userbase to 670 million by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit