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Standard Chartered inks coffee deal

Update: April, 16/2014 - 08:08

Standard Chartered Bank Vietnam's Deputy General Director Pham Nhu Anh (second centre) and Tin Nghia Corporation's General Director Quach Van Duc (centre right) at the signing ceremony. — VNS Photo

HCM CITY (VNS) — Standard Chartered Bank Viet Nam has signed an agreement for a US$22 million structured trade finance facility with Tin Nghia Corporation to fund the expansion of one of Viet Nam's leading coffee exporters.

Quach Van Duc, general director of Tin Nghia, said: "Tin Nghia Corporation has continuously grown for many years and secured a place among Viet Nam's top three coffee exporters.

"Now, with the support of Standard Chartered coupled with our almost 20 years' experience in the coffee export sector, we are confident that we will be able to continue adding value to Viet Nam's coffee industry and bring more benefits to local coffee growers."

Nirukt Sapru, general director of Standard Chartered Bank (Viet Nam), said: "Coffee is an important livelihood of a large community in Viet Nam and also one of the main export engines of the country. By building the strategic relationship with Tin Nghia, we hope to contribute to the sustainable development of the country." — VNS

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