The agreement was signed on March 24 during the Global Trade Partners Meeting hosted by the IFC in Lisbon, which brought together delegates from 57 countries representing more than 130 organizations.
The signing ceremony was witnessed by Nguyen Manh Thang, Ambassador Extraordinary and Plenipotentiary of Vietnam to Portugal.
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Tran Khai Hoan (2nd, L, front row), Member of the Board of Directors and Acting CEO of Nam A Bank, and Mohamed Gouled (2nd, R, front row), Vice President of IFC, signed a cooperation agreement witnessed by senior leaders from both sides and Nguyen Manh Thang (L), Ambassador Extraordinary and Plenipotentiary of Vietnam to Portugal. Photo courtesy of Nam A Bank |
By joining the IFC’s Global Trade Finance Program (GTFP), Nam A Bank becomes part of a network that connects banks in emerging markets with international financial institutions. The program is designed to support cross-border trade by helping banks manage payment risks and expand access to global markets.
Through this participation, Nam A Bank aims to support Vietnamese import-export businesses in improving access to trade finance, managing transaction risks, and expanding international operations.
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IFC proposes $50 million trade finance facility for Nam A Bank. Photo courtesy of Nam A Bank |
The bank also plans to expand its trade finance capacity to better serve businesses, particularly small and medium-sized enterprises (SMEs), and support their integration into global value chains.
A representative of Nam A Bank said that joining the GTFP reflects the bank’s efforts to align with international standards and strengthen its support for Vietnamese enterprises participating in global trade.
As part of the partnership, the IFC is preparing a trade finance facility of up to $50 million for Nam A Bank. The arrangement follows a period of due diligence, including Know Your Customer (KYC) procedures and assessments of the bank’s governance and risk management systems.
The IFC conducted an enhanced due diligence process based on international standards, reviewing areas such as credit portfolio quality, appraisal and approval procedures, internal rating systems, post-lending controls, and compliance with Basel II risk management principles.
This collaboration builds on previous cooperation between Nam A Bank and the IFC, including initiatives related to green finance under the VIFC-Ho Chi Minh City framework.
Nam A Bank is a Vietnamese commercial bank focused on digital transformation and sustainable development. Participation in the GTFP is part of its strategy to strengthen international connectivity and expand access to global financial resources.
The International Finance Corporation (IFC), a member of the World Bank Group, is a global development institution focused on the private sector in emerging markets. Established in 1956, it provides investment, advisory services, and capital mobilization to support sustainable development.
As of March 2024, IFC’s total investment portfolio was valued at $58 billion and holds AAA ratings from Moody’s and S&P.
