IFC helping maintain supply chains

The International Finance Corporation (IFC) has helped Vietnamese banks improve their capacity to guarantee payment risks in trade finance for domestic enterprises. With the IFC’s support, banks have issued 974 guarantees to exporters and importers totaling $686 million during fiscal year 2021 and granted more than $400 million to domestic suppliers to maintain liquidity. The IFC’s total supply chain funding has increased 28 per cent, helping 31 garment and agricultural businesses stay afloat and securing more than 100,000 jobs.