Sign up | Log in



WB offers $60m to modernise Vietnam central bank


November 1, 2008

WB offers $60m to modernise Vietnam central bank

The World Bank Friday said it was lending communist Vietnam 60 million dollars for a project to modernise its central bank with better training and technology, reported AFP.

The credit would help the State Bank of Vietnam and other institutions "to reform and modernise the financial sector by improving delivery of their main functions in line with international standards," said the bank.

Much of the loan would be used "to build a modern, centralised information and communications technology platform to support the State Bank of Vietnam's evolving role as a central bank," the World Bank said in a statement.

The project would also help the Credit Information Centre and the Deposit Insurance of Vietnam with funding from the International Development Association, the Washington-based World Bank's concessional arm.

"The project is aimed at contributing to the achievement of the government's strategic goal of a stable and sound financial sector in Vietnam," said Xiaofeng Hua of the World Bank's East Asia and Pacific region.

"This effort is critical in ensuring Vietnam's sustainable economic growth and continued progress in poverty reduction, especially at a time of global financial turbulence."

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand