SeABank raises additional $80 million to support small and medium enterprises

The investment from Proparco and FMO has raised SeABank's total capital mobilized from the international market to nearly 1.1 billion USD, affirming the Bank's reputation, operational efficiency, and capital efficiency.

The signing of the cooperation agreement between SeABank and Proparco, FMO marks the beginning of a cooperative relationship, aiming to promote economic growth and financial inclusion by supporting Vietnamese enterprises to access capital, thereby improving capacity, focusing on promoting key business areas.

Accordingly, Proparco and FMO have decided to provide a loan worth 80 million USD to SeABank, of which each party will provide 40 million USD.

With this loan, SeABank will have more resources to support small and medium enterprises and women-owned enterprises to access finance and expand production and business.

In addition, SeABank will also focus on promoting the application of international standards and best practices in environmental and social risk management and climate change response.

Speaking at the ceremony, Mr. Le Van Tan, Chairman of the Board of Directors of SeABank, said that with customer focus, SeABank has gradually become a financial consultant accompanying customers, ensuring equal opportunities for all individuals and businesses to access appropriate financial resources. With the support of Proparco and FMO, SeABank not only has more resources to provide effective financial solutions to customers but also demonstrates its efforts in supporting small and medium enterprises, women-owned enterprises, and green activities to contribute to combating climate change. This is also one of the priorities in SeABank's sustainable development strategy.

Mr. Olivier Brochet, French Ambassador to Vietnam, said that in the context of France and Vietnam upgrading their relationship to a Comprehensive Strategic Partnership, we are committed to strongly supporting Vietnam's development. The cooperation between Proparco, FMO and SeABank this time is completely in line with the strategic direction, meeting the common commitments at the G7 Summit in 2024 and aiming to address the challenges of the new era through protecting the ecosystem and supporting small and medium-sized enterprises, especially those owned by women.

On the part of the Dutch Government, Mr. Kees van Baar, Ambassador of the Netherlands to Vietnam, shared that, together with France, the Netherlands is the largest investor and largest trade partner of Vietnam in Europe, aiming to promote the development of Vietnam, especially small and medium enterprises and female-owned enterprises. At the same time, the Netherlands also found common strengths with Vietnam in abundant water resources to promote effective cooperation.

Mr. Kees van Baar emphasized the reason for choosing SeABank as a partner to implement development support activities in Vietnam: SeABank has a very clear strategic orientation on providing products and solutions to support the development of private enterprises, small and medium enterprises and female-owned enterprises; at the same time, it has a reputation and extensive network to be able to implement effectively. I believe that FMO and Dutch enterprises, together with SeABank and companies in the ecosystem, will continue to have many opportunities for cooperation in the near future.

Source: https://nhandan.vn/seabank-huy-dong-them-80-trieu-usd-de-ho-tro-doanh-nghiep-vua-va-nho-post867585.html