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IFC, Cathay United Bank Loaning $50m to VPBank for SMEs in Vietnam with Support From Women Entrepreneurs Opportunity Facility

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The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Cathay United Bank, a Taiwan-based commercial bank, recently announced that they will each lend USD 25 million to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to support small businesses in Vietnam.VPBank has agreed to allocate one fourth of the funds to women-owned small and medium-sized enterprises (SMEs), as a condition of funding sourced from the Women Entrepreneurs Opportunity Facility, which was launched in 2014 by the Goldman Sachs 10,000 Women Initiative and IFC. IFC and Goldman have made approximately USD 600 million in commitments to banks in 17 countries through the Women Entrepreneurs Opportunity Facility since its inception.

For more on this story visit the following link: IFC, Cathay United Bank Loaning $50m to VPBank for SMEs in Vietnam with Support From Women Entrepreneurs Opportunity Facility

Source:  MicroCapital

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