IFC raises trade finance limits to support Vietnamese businesses amid coronavirus crisis

The International Finance Corporation has increased trade finance limits for Vietnamese banks to address, in advance, potential trade finance challenges triggered by the outbreak of the coronavirus.

The increased total limit of $294 million will allow An Binh Commercial Joint Stock Bank, TienPhong Commercial Joint Stock Bank, Vietnam International Commercial Joint Stock Bank, and Vietnam Prosperity Joint Stock Commercial Bank to improve their capacity to cover payment risk in granting trade financing to local companies, mostly SMEs.