Techcombank to Lend More to SMEs

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and the Netherlands Development Finance Company (FMO) have recently signed two cooperation agreements under which FMO will help Techcombank consolidate financial position and capacity in Vietnam. The total value of the deals is valued US$12 million.

 

FMO will provide Techcombank with a US$6 million loan for small and medium enterprises (SME) in Vietnamese currency. Under this financing, Techcombank can enhance its ability to facilitate Vietnam’s SMEs’ urgent need for local currency finance, which helps improve their business sustainability. Another US$6-million credit will go to house financing activities. This loan will be used to provide mortgage with a 10-15-year tenor. This financing will consolidate housing loans of Techcombank.