Opening remarks by Ashok Lavasa, ADB Vice President for Private Sector Operations and Public–Private Partnerships, at the Vietnam Prosperity Joint Stock Commercial ngân hàng Signing, 11 November 2022

Ladies & gentlemen,

Good morning & a warm welcome. I am very pleased to join the signing ceremony of the $500 million loan package with the Vietnam Prosperity Joint Stock Commercial bank (VPB) to expand access khổng lồ finance for women-owned small & medium-sized enterprises (WSMEs) và social loan projects in Viet Nam. This signing marks an important milestone in ADB’s relationship with VPB.

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The financing package comprises a $100 million loan from ADB’s ordinary capital resources that will be dedicated lớn WSME financing, and includes a $300 million syndicated parallel loan jointly mobilized by ADB and SMBC. The japan International Cooperation Agency has also provided a $100 million loan for this transaction. ADB values its partnership with cofinancing institutions in mobilizing resources for enhancing development effectiveness.

The long-term funding from ADB will increase VPB’s capacity khổng lồ finance an underserved segment. Almost all of Viet Nam’s businesses are small and medium-sized enterprises (SMEs), accounting for about 98% of registered enterprises & contributing approximately 40% of GDP and 1/2 of total employment in 2019. Access lớn finance has always been challenging for SMEs and the COVID-19 pandemic has further exacerbated this funding gap. Female borrowers are particularly underserved, & the transaction will specifically target WSMEs, supported by an attached grant, which will be used lớn incentivize VPB to lớn expand lending lớn WSMEs. Targeting women borrowers is new for banks in Viet phái nam and, given VPB’s visibility in the market, this intervention will provide vital funding for và raise the profile of this underserved segment during Vietnam’s post-pandemic recovery.

ADB has been working with banks in targeting sectors where ADB can have a meaningful impact. ADB has had a relationship with VPB through its Trade và Supply Chain Finance Program since 2015. Given VPB’s leadership position in digital banking, commitment to further expand its WSMEs portfolio, strong financial performance, & good corporate governance, the ngân hàng is an excellent partner with which access to finance for WSMEs can be expanded. I am happy to nội dung with all of you that this project achieved the highest gender categorization within ADB và will be the second project where ADB is blending a private sector loan with a performance-based grant, funded by the Women Entrepreneurs Finance Initiative (We-Fi) in Viet Nam. The grant is notable because it will not only incentivize VP ngân hàng to invest in expanding its services to lớn women but also khổng lồ host a randomized control trial. This study is the first of its kind in Vietnam và will allow VP ngân hàng to demo whether interventions designed to support female clients really work and how well they work. The lessons from the randomized control trial will be shared with other stakeholders in Viet Nam and the development and economic communities globally.

Ladies & gentlemen, thank you again for attending this ceremony to lớn witness the signing of the loan agreement with VPB. Congratulations khổng lồ Vietnam Prosperity Joint Stock Commercial Bank, all our co-financing partners, & our entire team at ADB. I wish the very best khổng lồ this collaborative effort in reaching out to lớn the intended beneficiaries và I wish them success.

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Registered name in Vietnamese: NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN CÔNG THƯƠNG VIỆT NAMRegistered name in English: VIETNAM JOINT STOCK COMMERCIAL ngân hàng FOR INDUSTRY and TRADETrading name: Vietin
Banking License: No. 142/GP-NHNN dated 3rd July 2009 by the State bank of Vietnam
Certificate of Business Registration: No. 0100111948 by Hanoi Department of Planning và Investment for the first issuance on 3rd July 2009, registered for the 12th amendment on 8th September 2021Charter Capital: VND 48,057,506,090,000Shareholders’ Equity: VND 93,247,451,000,000 (as of 30th June 2021)Head Office: 108 Tran Hung Dao Street, Hoan Kiem District, Hanoi, Vietnam
Securities Code: CTG


A leading multi-functional, modern và efficient ngân hàng in Vietnam, being among the Top trăng tròn strongest banks in the Aisa-Pacific region by 2030; and by 2045, being the strongest and most prestigious ngân hàng in Vietnam, a leading bank in the Asia-Pacific region và a highly reputable ngân hàng in the world.


Being a pioneer bank in the country's development on the basis of bringing optimal value to lớn customers, shareholders & employees.

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