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Commercial banks to support WB projects

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Sài Gòn-Hà Nội Bank (SHB) and Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) have been assigned to support projects signed between Việt Nam and the World Bank.

Sài Gòn-Hà Nội Bank (SHB) and Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) have been assigned to support projects signed between Việt Nam and the World Bank. — Photo baomoi.com

 

The decisions were issued by the State Bank of Việt Nam (SBV).

Accordingly, SHB will support the project "Medium Urban Development" - Financing Agreement for Additional Financing Credit 6070-VN and Financing Credit Code 6071-VN, signed on December 15, 2017.

In addition to this, SBV also assigned Techcombank to serve “Sustainable development of Đà Nẵng City” - Financing Agreement for Additional Financing Credit 6032-VN, signed on September 29, 2017.

The general directors of SHB and Techcomback are responsible for implementing the provisions of Decree 16/2016 /NĐ-CP dated March 16, 2016, of the government on the management and use of official development assistance (ODA) and preferential loans of foreign donors, guiding documents of the SBV and the Ministry of Finance, as well as the guiding regulations of the World Bank to better serve the implementation of the project.

These decisions are effective from the signing date on June 6, 2018. 

 

Source: VNS

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