IFC to Focus Investments on Vietnam Infrastructure Projects
The International Finance Co (IFC), under the World Bank, will prioritize its investments for power, transpiration infrastructure development in Vietnam instead of financial investment, Sin Foong Wong, country director of IFC said.
“IFC wants to invest in key projects which are of great importance of Vietnam’s development. IFC has disbursed US$500 million into 30 projects since 1994.” Sin Foong Wong was cited by the Securities Investment newspaper as saying.
The WB arm, which is the biggest lender for the private sector in Vietnam now, has recently provided a VND320 billion (US$20 million) loan to Technology and Commercial Joint Stock Bank (Techcombank) to support small and medium enterprises.
Techcombank is serving 20,000 SMEs, accounting for 65 per cent of its loans. (Securities Investment, VNA, New Hanoi)
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