Vietcombank Joins Disbursement of $322M World Bank-funded Project

Bank for Foreign Trade of Vietnam (Vietcombank), the country’s fourth largest bank by assets, has signed a deal to disburse the loan funded by the World Bank and the Swiss State Secretariat for Economic Affairs (SECO) for an urban development project in the southern city of Can Tho. Under the deal, Vietcombank-Can Tho branch will provide banking services to the project’s management board for the implementation of the project which costs total $322 million from 2016 to 2021. The project will cover three components focusing on monitoring flooding and sanitation, developing urban corridors, and increasing urban management amid worsening climate changes. Vietcombank was earlier listed among Forbes’ Global 2000, a comprehensive annual ranking of the world's largest public companies, ranking 1,843. (Tinnhanhchungkhoan.vn June 13)