The Asian Development Bank (ADB) and Tien Phong Commercial Joint Stock Bank (TPB) have signed an agreement under which ADB will lend US$25 million to TPB to provide loans to women-owned and women-led small and medium enterprises (WSMEs) in Vietnam. Deutsche Investitions- und Entwicklungsgesellschaft (DEG) will also co-finance the project for US$25 million. There will also be a US$750,000 technical assistance grant from the Women Entrepreneurs Finance Initiative (We-Fi) to enable TPB to upgrade its capacity to lend to WSMEs, recruit employees and disseminate its services to female borrowers. It will also help TPB use digital systems to analyze the underserved WSME market.
