Recently, ADB held an award ceremony for the Trade and Supply Chain Finance Program (TSCFP) for partner banks with outstanding achievements in promoting trade and supply chain finance in Asia Pacific in 2024. This is an annual award with the participation of 240 member partners in the region and around the world. At the event, TPBank was honored for the third consecutive year as the leading bank in supporting SMEs in trade finance activities, affirming the prestige and brand position of TPBank to ADB in particular and partner banks in general.
Speaking at the program, Ms. Tran Bich Hanh - Deputy Director of Capital and Financial Markets of TPBank shared: "With strong support from ADB, TPBank has more opportunities to support customers in accessing capital, expanding business, and at the same time can increase the funding capacity for small and medium-sized enterprise customers with low costs and many diverse and flexible financial services".
With a sustainable development orientation, TPBank always focuses on increasing support for trade finance transactions, especially for businesses owned by women, strongly promoting gender-equal finance in Vietnam. Recently, the International Finance Corporation (IFC) honored TPBank as the Best Trade Partner Bank - Gender-Equal Finance 2024. Previously, TPBank signed cooperation agreements with international organizations such as the Asian Development Bank (ADB) and the Investment Fund under the German Reconstruction Bank KFW (DEG) with a total loan value of up to 50 million USD to improve access to capital for small and medium-sized enterprises owned by women in Vietnam.
ADB’s Trade and Supply Chain Finance Program (TSCFP) works to make global trade and supply chains sustainable, inclusive, transparent, and socially responsible. Since 2009, TSCFP has supported $57 billion in trade across 45,510 transactions (60% of which involved SMEs). In Viet Nam, its support portfolio focuses on programs that promote a green economy, harness the private sector, promote social equity, enhance climate resilience, promote sustainable development, improve transport connectivity, and reduce poverty in remote areas.
By the end of 2023, the cumulative total disbursement value of loans and grants from both the public and private sectors to Vietnam from ADB is US$12.79 billion, financed by the ordinary capital resources and concessional ordinary capital resources, the Asian Development Fund, and other special funds. With a commitment to support Vietnam in achieving its Net Zero goal by 2050, ADB is actively promoting financing projects to improve and nurture green banking activities.
