Sacombank signs SME credit support agreement

Sacombank Leasing Company (HoSE: STB) has finalised a credit agreement worth 5 million USD with Norfund to assist the provision of medium and long-term capital to small and medium-sized enteprises (SME) in Vietnam.

Under the agreement, signed in Ho Chi Minh City on March 18, Norfund will provide a 5 million USD loan to Sacombank Leasing Company for a five-year period.

The loan will help the company improve its financial capacity and increase its ability to meet demand on capital loans from Vietnamese enterprises.

Norfund, assisted by the Norwegian Government, is an investment fund for developing countries. Its purpose is to boost business development and contribute to economic growth and poverty reduction.

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