TienPhongBank Joins ADB Global Trade Finance Programme

On June 7, 2011, in Hanoi, TienPhongBank signed an agreement with the International Finance Corporation (IFC) to participate in the Global Trade Finance Programme (GTFP). Accordingly, the IFC is committed to issuing guarantees to cover obligations of TienPhongBank for beneficiary banks in trade finance transactions.

 

These guarantees are transaction-specific and apply to letters of credit, trade-related promissory notes and bills of exchange, bid and performance bonds,, advance payment guarantees, suppliers credits for the import of capital goods

 

Through the GTFP’s 400 banks network, TienPhongBank can establish working partnerships with a vast number of major international and regional banks in the programme. It can finance its import and export clients through the GTFP’s various trade instruments.

 

TienPhongBank is one of eight Vietnamese banks joining the IFC’s GTFP.