Singapore, 3 September 2019 - Within the framework of the Trade Finance Program (TFP), the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was honored with ADB’s award “Best SME Deal”. This is the fourth consecutive year that BIDV has received TFP program award.

BIDV is the only bank among 200 member banks of the 2019 TFP program to receive the “Best SME Deal” award. The award is recognition of the lender's relentless efforts in implementing solutions to supporting small and medium-sized enterprises (SMEs), as well as commitment to sustainable development, environmental protection, SME development in rural areas and women-owned SMEs. The award affirms BIDV's position as No.1 SME bank, and the leading bank in trade finance for SMEs in Vietnam.

In recent years, funds from the TFP program and BIDV’s preferential credit programs have actively supported the bank’s SME customers in winning import-export contracts, developing business activities, promoting circular economy, reusing agricultural waste products, contributing to poverty reduction, and creating jobs for many female laborers and low-income people in difficult rural areas.

BIDV has also been honored as "ADB’s Leading Partner Bank in Vietnam” for 3 consecutive years (2016-2018) for its effective cooperation in all activities, especially the implementation of ADB-funded trade finance programs.

In December 2018, ADB and BIDV signed a medium and long-term credit facility contract worth USD300 million to support SMEs in Vietnam. The facility is the largest commercial loan that ADB has provided to an Asian commercial bank to date. The loan has supported SMEs in Vietnam while affirming BIDV's partnership with ADB in poverty reduction, economic growth, regional integration and environmental protection.

ADB and BIDV have established relationship since 1996 when BIDV received entrustments for disbursement to projects financed by ADB. By the end of 2018, over 22 years of implementing the ADB-entrusted funds, BIDV has implemented 63 programs and projects worth over USD 6 billion, contributing to promoting the development of Vietnam’s essential industries and fields.

In 2009, BIDV and ADB signed a trade finance limit contract. Thanks to effective implementation, ADB has increased the limit for BIDV, making significant contribution to the growth of Vietnamese enterprises given the international economic integration. BIDV’s trade finance transaction volume using the ADB limit in 3 years (2016 to 2018) reached nearly USD1 billion.

For further information, please contact:

Branding and Communication Department

Bank for Investment and Development of Vietnam JSC

Tel: +84.24. 22205256 - Fax: +84.24. 22200399 - Website: www.bidv.com.vn