IFC raises trade finance limit in LienVietPostBank

The International Finance Corporation raised the trade finance limit in Lien Viet Post Commercial Bank from US$5 million to $20 million.

This will allow the bank to help small and medium enterprises in Vietnam to sustain import and export trade activities and create jobs, despite a tight global credit market.

Since joining the programme in May 2011, Lien Viet Post Bank has expanded its trade and financial facilities to assist small and medium businesses in key export and import sectors, particularly in the Mekong Delta.

LienVietPostBank is one amongst 200 banks in 90 developing countries taking part in the Global Trade Finance Programme. Under GTFP, the IFC is supporting growth and development of Vietnamese small and medium enterprises.

IFC's award-winning programme has issued more than 10,000 guarantees to banks totalling $14.3 billion for trade-related payment obligations to its financial institution clients in emerging markets.

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Tags: trade finance limit, SMEs, International Finance Corporation, exports, imports