The International Finance Corporation (IFC), a private investment arm of the World Bank, on August 11 said that it would offer a lending package worth $70 million for Ho Chi Minh City-based Indo Trans Logistics Corporation (ITL Corp) to support Vietnam’s logistics industry, local media reported. The first-ever loan to be poured into Vietnam’s logistics sector is expected to promote the country’s trade and raise its competitiveness, amid the Coronavirus disease 2019 (COVID-19). The long-term package will help ITL Corp, one of the leading logistics firms in Vietnam, acquire new assets, develop new warehouses and facilities, and deploy advanced information technology systems. It will allow the firm to provide higher quality and integrated logistics services to more customers, including domestic manufacturers and small-and medium-sized enterprises (SMEs). (Tuoi Tre, Hai Quan, Saigon Times)
