The Asian Development Bank (ADB) announced the winners of its third annual Trade Finance Program (TFP) Awards at a ceremony held on 5 September in Singapore. BIDV has been granted the ‘Leading Partner Bank in Vietnam’ award for two years in a row.

 

​The awards recognise the TFP’s most active partner banks as measured by the number of transactions conducted between 1 July 2016 and 30 June 2017. BIDV’s award, granted by ADB, is the recognition for the bank’s endeavors in maintaining and strengthening its operational capacity, expansion in trade finance as well as information transparency.

TFP provides guarantees and loans to over 200 partner banks to support trade. Backed by ADB's AAA credit rating, the program works with over 200 partner banks to provide companies with the financial support they need to engage in import and export activities. ‎Since 2009, ADB’s TFP has supported more than 10,900 small and medium-sized businesses across developing Asia — through over 16,000 transactions valued at over USD28.5 billion.

Given the international banks’ down-scaling caused by global turbulence, the credit granted by ADB to its partner banks helped restrain these negative impacts on the provision of trade finance services to local businesses, facilitating local banks to conduct more trade finance transactions with its customers.

In August 2009, BIDV was one of the first Vietnamese partners selected by ADB to be granted credit limit and sign trade finance contracts in the framework of the TFP programme.

* ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled USD31.7 billion, including USD14 billion in cofinancing.