IFC Provides $150 Million Financing Package to SeABank
By Lam Giang
To support local businesses and help them make a resilient recovery after the Covid-19 pandemic, IFC is providing a $40 million loan to Southeast Asia Commercial Joint Stock Bank (SeABank).
The first phase of an up to $150 million financing package, the funding package will help expand lending to small and medium enterprises (SMEs), especially women-owned businesses, increase access to climate finance, and boost international trade opportunities.
The package will comprise up to $80 million from IFC’s own account and $50 million to be mobilized from international lenders, in addition to a $20 million trade finance line.
Photo courtesy of sasint.