World Bank arm to guarantee An Binh Bank’s foreign payments

The International Finance Corp. Thursday signed a commercial guarantee contract with An Binh Bank (ABBank) guaranteeing the lender’s payment commitments, the latter said in a statement.

The corporation, a member of the World Bank Group, will guarantee the Ho Chi Minh City-based bank’s commitments to the extent of US$10 million this year. The bank said the deal would be an advantage for its customers in approaching international exporters for purchases. Reported by Vinh Bao