ADB and BIDV have entered into a $250 million financing agreement to support sustainable agriculture and promote access to finance for women-owned small and medium-sized enterprises in Vietnam.

Information on the Target

The target of this financing initiative is the Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV), a prominent financial institution in Vietnam established in 1957. BIDV holds the distinction of being the largest bank in the country by total assets and is publicly listed on the Ho Chi Minh Stock Exchange. Over the years, BIDV has developed a robust network including multiple subsidiaries, affiliates, and joint ventures, enhancing its capability to cater to a wide range of financial needs.

In 2019, BIDV welcomed a strategic investment from KEB Hana Bank of the Republic of Korea, which acquired a 15% stake in the bank, further underlining its credibility and potential for growth in the Vietnamese banking sector.

Industry Overview in Vietnam

The agricultural sector is a vital component of Vietnam's economy, accounting for approximately 45% of the total labor force. It has traditionally been significant in driving the country's economic development and now plays a crucial ro