BIDV issues 30mln USD loan for Myanmar bank

The Bank for Investment and Development of Vietnam (BIDV) will lend 30 million USD to Myanmar 's Small- and Medium-sized Industrial Development Bank (SMIDB) over five years.
The Bank for Investment and Development of Vietnam (BIDV) will lend 30 million USD to Myanmar 's Small- and Medium-sized Industrial Development Bank (SMIDB) over five years.

The two parties signed an agreement in principle on the financing in Myanmar 's capital Nay Pyi Taw on November 19.

According to a BIDV press release, SMIDB will use the loan to support small- and medium-sized enterprises, industrial development and poverty reduction policies of Myanmar .

Following a memorandum of understanding inked in June, the two sides have also exchanged experience in the application of information technology and the implementation of trade finance and foreign exchange services.-VNA

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