Treasury Management Internation Logo

Standard Chartered Bank signs USD70m structured trade finance facility agreement with An Giang Plant Protection Joint Stock Company

Published 

First foreign bank to support the development of the big paddy field model

Ho Chi Minh City – Standard Chartered Bank Vietnam today signed a USD70m structured trade finance facility agreement to provide An Giang Plant Protection Joint Stock Company (AGPPS) with short to medium term working capital. This agreement will allow AGPPS to develop its big paddy field model in the Mekong Delta.

AGPPS’ big paddy field model, an integrated rice production chain, has been deployed for more than three years, wherein the company purchases rice paddies from farmers using its products and, in turn, appoints agricultural engineers to provide technical assistance to those farmers. This helps to raise the overall quality of the product, offering better returns for improved financial security as well as eliminating value leakage through intermediaries.

Huynh Van Thon, Board Chairman and General Director of AGPPS said: “Standard Chartered’s innovative and tailor-made products for agriculture allow us to further the success of the big paddy field model. I believe, with the support of a leading international bank like Standard Chartered and our experience in agribusiness, we will continue to bring more value to the local rice industry and provide more benefits to the farmers.”

Nirukt Sapru, CEO of Standard Chartered Bank – Vietnam, Cambodia & Laos said: “We are proud to be the first foreign Bank to support the development of the big paddy model in Vietnam through this pioneer cooperation with AGPPS. We are encouraged by the way AGPPS is supporting the development of the rice industry from which millions of Vietnamese rice growers will benefit. This alliance will allow us to leverage our suite of capabilities and structuring expertise to meet our client needs.

We hope that the long-term partnership with AGPPS will help us contribute to the sustainable growth of the agriculture sector and play a part in the nation’s development, demonstrating our brand promise – Here for good.

The signing marks a milestone for the relationship between Standard Chartered and AGPPS, driving forward the successful agriculture model in Vietnam. It also demonstrates the business capacity of AGGPS, and affirms Standard Chartered’s leadership position in structured trade finance in Vietnam.”

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...

25:12

HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...

16:24

The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...

33:16

HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....

20:58

Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...

34:25

HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...

25:48

Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...

28:21

Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...

16:54

Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...

23:55

Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...

23:55