IFC increases loan package for Seabank to $220 million

Khanh Minh Tuesday | 01/18/2022 13:29

Photo: SeABank

International Finance Corporation and international lenders have increased the loan package granted to Southeast Asia Commercial Joint Stock Bank to $270 million from $150 million.

The additional capital is expected to help SeABank in re-financing SMEs, women-owned businesses, and the climate, while enabling the lender to better support businesses, narrow the financial gap, and ensure sustainable development.

In the strategic roadmap to support women-owned businesses, SeABank has adopted preferential policies, including diversification of corporate credit granting with a competitive loan to value ratio and free digital service packages to support businesses in digital transformation.

The additional funding was provided by IFC, and international lenders including Banque Internationale de Commerce-BRED, BlueOrchard Microfinance Fund, KASIKORNBANK PCL, OPEC Fund for International Development (OPEC Fund) and responsAbility Investments AG.

These are leading development finance institutions and impact investing firms with the goal of impact investing towards creating social and environmental impact in addition to financial benefits, focusing on small and medium enterprises, the private sector and the environment.

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