Le Ngoc Lam, BIDV Deputy Director General (L) and Michael Barrow, General Director of ADB’s Department of Private Sector Operations at the signing ceremony (Photo: VGP/Huy Thang)

The package is comprised of an A loan of 200 million USD provided by ADB and a B loan of 100 million USD provided by 12 commercial lenders, divided into a three-year tranche and a five-year tranche. The loan will make ADB the first development finance institution to provide long-term lending to BIDV. ADB will work with BIDV to implement an environmental and social management system. Digital finance will be promoted through the introduction of new digital products to reach financially under-served populations in rural areas, including SMEs owned by women.