The Asian Development Bank has signed a $100-million loan agreement with Ho Chi Minh City Development Joint Stock Commercial Bank, while Vietnam National Payment Corporation (NAPAS) has partnered with TikTok Shop to integrate its digital payment platform.
ADB, HDBank sign $100m loan to expand finance for MSMEs
The Asian Development Bank (ADB) has signed a $100-million loan with Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) to expand access to finance for micro, small, and medium-sized enterprises (MSMEs) in Vietnam, with a focus on women-owned firms.
As mandated lead arranger and co-coordinator with Standard Chartered Bank (Singapore) Limited, ADB also brought together 29 commercial banks to mobilise an additional $621 million in financing and expand the resources available to HDBank, according to an announcement.
The financing will support HDBank’s medium- to long-term lending, with at least 40% of ADB’s financing directed to women MSMEs.
Earlier this month, DealStreetAsia first reported that Affinity Equity Partners has exited Vietnam’s HDBank by selling its significant minority stake to the lender’s controlling shareholder.
NAPAS, TikTok Shop partner to expand digital payments in Vietnam
Vietnam National Payment Corporation (NAPAS) has partnered with TikTok Shop to integrate its digital payment platform, enabling shoppers to pay using NAPAS cards and payment accounts from 44 banks as the e-commerce platform expands its payment options in Vietnam.
Under the agreement, TikTok Shop users will be able to make purchases through NAPAS’s nationwide payment network, with payment methods including NAPAS cards, account-based payments, banking and payment intermediary apps, and Apple Pay.
For TikTok Shop, the partnership provides access to NAPAS’s payment network. The collaboration strengthens NAPAS’s position in Vietnam’s retail payments ecosystem.
