ADB signs agreement with SHBThe Asian Development Bank (ADB) has signed a Revolving Credit Agreement (RCA) with the Sai Gon - Ha Noi Commercial Joint Stock Bank (SHB). Under the agreement, ADB’s Trade Finance Program (TFP) will provide a $20 million direct loan to SHB to support pre-shipment and post-shipment trade transactions. “We are pleased to work with SHB to increase support to companies, including small and medium-sized enterprises (SMEs),” said Mr. Eric Sidgwick, ADB Country Director for Vietnam. In less than 12 months, the TFP has supported a total of 25 SHB transactions worth over $160 million. “Participating in the TFP under the RCA helps diversify our trade finance products and services,” said Mr. Nguyen Van Le, CEO of SHB.

Source: VietNamNet News February 21, 2017 07:52 UTC