The 8 banks are the Asia Commercial Bank, Military Bank, Saigon Thuong Tin Bank, Techcombank, Bank for Agriculture and Rural Development, Vietnam Bank for Industry and Trade, Vietnam Export Import Bank, and the Vietnam International Bank.

The agreements are part of ADB's recently expanded US$1 billion Trade Finance Facilitation Programme (TFFP) that is expected to garner up to US$15 billion in trade support in Asia by the end of 2013.

"Financing under the TFFP can be made available to both private firms and State-owned enterprises. Vietnam needs to promote trade to counter the adverse impact of the global economic slowdown. Through the TFFP and other assistance, ADB is committed to helping Vietnam strengthen its resilience and to promoting its economic recovery," said Ayumi Konishi, ADB Country Director for Vietnam.

ADB is scheduled to sign similar agreements with two more Vietnamese banks shortly.