IFC provides $40m first tranche of financing facility to Vietnam's SeABank

International Finance Corporation (IFC) is extending a loan of $40 million to Vietnam-based commercial lender SeABank to help it support local businesses recover from the COVID-19 pandemic.

This loan forms the first tranche of the $150-million financing from IFC for SeABank. The World Bank Group’s financial arm had earlier said it was considering providing financing of up to $130 million to the Vietnamese lender.

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