ADB Targets Credit, Leasing Finance to Grow Viet Nam's Small, Medium Firms

News Release | 3 May 2009

BALI, INDONESIA - The Asian Development Bank (ADB) says a US$25 million six-year loan to Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) will help Viet Nam's small- and medium-sized enterprises (SMEs) gain access to badly needed credit, including lease finance.

ADB and Sacombank signed the loan agreement today at ADB's 42nd Annual Meeting in Bali. Present at the signing were Sacombank Chairman Dang Van Thanh, Chief Executive Officer Tran Xuan Huy, and Philip Erquiaga, Director General of the Private Sector Operations Department at ADB.