Techcombank to support SMEs with German loan

Techcombank will use a long-term loan from the German Investment and Development Company to assist small and medium-sized businesses in Vietnam.

An agreement has been signed by the parties.

The loan will help the bank satisfy enterprises' demand for capital. SMEs account for 96 per cent of enterprises in Viet Nam, contributing to 40 per cent of the Gross Domestic Product, according to the Viet Nam Association for Small and Medium-sized Businesses.