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Commercial banks to support WB projects

Saigon-Hanoi Bank (SHB) and Vietnam Technological and Commercial Joint Stock Bank (Techcombank) have been assigned to support projects signed between Vietnam and the World Bank.
Commercial banks to support WB projects ảnh 1Transaction at Techcombank (Illustrative image. Source: http://www.sggp.org.vn)


Hanoi (VNA) - Saigon-Hanoi Bank (SHB) and Vietnam Technological and Commercial Joint Stock Bank(Techcombank) have been assigned to support projects signed between Vietnam andthe World Bank.

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

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

In addition to this, SBV also assigned Techcombank to serve “Sustainabledevelopment of Da Nang city” - Financing Agreement for Additional FinancingCredit 6032-VN, signed on September 29, 2017.

The general directors of SHB and Techcomback are responsible for implementingthe provisions of Decree 16/2016 /NĐ-CP dated March 16, 2016, of the governmenton the management and use of official development assistance (ODA) andpreferential loans of foreign donors, guiding documents of the SBV and theMinistry of Finance, as well as the guiding regulations of the World Bank tobetter serve the implementation of the project.

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

VNA
#Saigon -Hanoi Bank (SHB)#Vietnam Technological and Commercial Joint Stock Bank (Techcombank)#support#projects#World Bank#State Bank of Vietnam (SBV)#sustainable development#official development assistance (ODA)#preferential loans#foreign donors#Vietnamplus#Vietnam News Agency
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