Credit agreement to support businesses inked

Sacombank Finance Leasing Company (Sacombank-SBL) has just signed a credit agreement worth US$5mln with Norfund (the Norwegian Investment Fund for Developing Countries) to provide medium and long-term loans for small and middle-sized businesses in Vietnam.

Norfund is an investment company intended to develop and establish profitable and sustainable enterprises in poor countries. The objective is to promote business development and contribute to economic growth and poverty alleviation. Norfund operates in some of the world’s developing countries and invests in markets where ordinary commercial enterprises are often reluctant to venture alone because of the high risk. Norfund invests equity, directly in enterprises and indirectly through funds, as well as providing loans to individual companies.

 Reported by Thanh Hong-Translated by K.T