Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates


Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

WB helps modernise Vietnam’s financial sector   2009-04-22 - VietNamNet/VNA

A concessional credit of nearly 60 million USD to modernise Vietnam’s financial sector was signed by the State Bank of Vietnam (SBV) and the World Bank (WB) in Hanoi on Apr. 21.

 

 
The credit comes from the International Development Association (IDA) in the form of a soft loan provided by the WB for low-income countries and has a duration of 40 years with a 10-year grace period.

 

Speaking at the signing ceremony, Victoria Kwakwa, the WB Country Director in Vietnam, said: “The ongoing global economic crisis provides Vietnam with an opportunity to deepen and accelerate its reforms in critical areas such as the financial sector, in order to strengthen the competitiveness of the economy.”

 

The funds will assist the SBV, the Credit Information Centre (CIC) and the Deposit Insurance of Vietnam (DIV) to improve their operations up to international standards.

 

A major portion of the 60 million USD will be used to build a modern centralised information and communications technology (ICT) platform to support the SBV’s evolving role as the country’s central bank.

 

In addition to providing financial assistance, the WB will invite a number of overseas IT experts to Vietnam to give consultancy and technical assistance to the project.



Other news

BUSINESS IN BRIEF 22/4   2009-04-22

Automobile market ‘holding its breath’ after new tax   2009-04-22

Shrimp prices shoot up   2009-04-22

Quotations in US$: People and institutions have to respect laws   2009-04-22

VNDS advises investors to purchase shares now   2009-04-22

Listed companies getting ready to move   2009-04-22

Nigerian business group promotes trade   2009-04-22

Economic zones focus on attracting green projects   2009-04-22

Counterfeit money now on open sale in HCM City   2009-04-22

Automobile market ‘holding its breath’ after new tax   2009-04-22

Retailers offer attractive promotion campaigns for May holiday   2009-04-22

Vietnam Airlines arm’s jet-fuel monopoly could end   2009-04-22

Vietnamese stocks: cheap or expensive?   2009-04-22

Vietnam Central Bank Says No Dollar Shortage, FX Reserves Stable   2009-04-22