Bird flu epidemic and diseases in farm animals including blue-ear and foot-and-mouth in pigs and cattle have been put under control in most localities nationwide during the last two weeks.
The International Finance Corp, a World Bank arm, will lend $5 million to Hanoi-based Thien Viet Securities to develop investment banking services targeted at small and medium-sized enterprises in Vietnam.
The loan has a three-year term and can be converted into shares of the company. IFC will also advise TVS on risk management and corporate governance practices.
Thien Viet Securities, which has a capital of VND430 billion ($22.1 million) -- among the top 15 securities firm in terms of capitalization -- offers investment banking services to private companies looking to access the capital market.
It also consults on strategic development, operational management, corporate governance, mergers and acquisitions, and initial public offerings.
By helping Thien Viet Securities enhance its capacity, products, and services to meet international standards, the IFC will be able to replicate these practices in other sectors of the economy, particularly small and midsized firms that are currently overlooked by foreign investment banks.
“We have invested in a number of Vietnamese banks before, but this is IFC’s first engagement with a securities service provider in the country,” Rashad Kaldany, IFC’s vice president for Asia, Eastern Europe, Middle East and North Africa, said.
“It is a starting point for our work to strengthen more financial services providers in the country, with a focus on small and midsized enterprises.”