At the kick-off ceremony (Photo: VNA) This funding, along with a 2 million USD contribution from the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR), financed by the Government of Japan, will support the expansion of inclusive and climate finance in the country.
The technical assistance is crucial in helping advance the access to finance of small- and medium-sized enterprises (SMEs) and women-owned and women-led SMEs (WSMEs) in particular via supporting the SBV in developing and implementing the regulatory framework for strengthening the digital finance sector, ensuring safe market conduct and a thriving ecosystem.
The assistance contemplates training opportunities on fintech and green banking best practices for SBV staff, targeting 25% female participation and consulting services to WSMEs on preparing green loan applications. Additionally, it will build the capacity for relevant government ministries and members of fintech and banking associations and assist selected commercial banks in developing digital banking.
The Swiss-funded 5 million USD technical assistance aims to nurture fintech serving the improvement of financial inclusion in Vietnam. (Illustrative photo - Source: VNA) ADB Country Director for Vietnam Shantanu Chakraborty said following earlier fruitful collaboration with the SBV, the ADB is excited to join efforts in further fostering the digital banking transformation in Vietnam’s fast-growing market.
This technical-assistance programme further expands Switzerland’s comprehensive supports to strengthen Vietnam’s financial sector. Through fostering Vietnam’s fintech industry and digitalisation of the banking sector, the programme offers new opportunities for SMEs to improve their access to financing, said Swiss State Secretary for Economic Affairs Dominique Paravicini./.
VNA
