Investment will increase access to credit, with specific focus on women entrepreneurs
As Vietnam accelerates economic recovery amid COVID-19, IFC, LeapFrog Investments, and DEG – Deutsche Investitions- und Entwicklungsgesellschaft have invested $165 million in convertible Tier 2 bonds issued by Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), a leading Vietnamese private retail and SME bank. While strengthening the bank’s capital base, the funding will help increase lending to retail and small and medium enterprises (SMEs), including women-owned or -led ones.