“Under these agreements, the ADB and our new Vietnamese bank partners will support exporting and importing companies, including small and medium-sized enterprises,” said Steven Beck, ADB’s head of trade finance.  “This agreement will help create economic growth and jobs.”

ADB’s Trade Finance Programme has been operating in Vietnam since 2009. The new agreements add to the nine other existing bank partnerships under the programme. Since 2009, the programme has conducted 4,303 transactions, supporting USD6.5 billion in trade in Vietnam.

“Vietnam is one of the Trade Finance Programme’s most active and important markets and signing these agreements adds to the programme’s significant record of support for trade in the country,” said Santosh Pokharel, Trade Finance Programme relationship manager for Vietnam. “We’re pleased to be working with these new partners.”

The Trade Finance Programme’s loans and guarantees will be complemented by workshops and seminars to increase knowledge and expertise on trade finance, resulting in more support to companies involved in foreign trade.

Backed by ADB's AAA credit rating, the Trade Finance Programme provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia to engage in import and export activities.

Since 2009, the Trade Finance Programme has supported more than 6,000 small and medium-sized enterprises across the region, through about 10,000 transactions valued at over USD20 billion, in sectors ranging from commodities and capital goods, to medical supplies and consumer goods.