Vietnam is ready to immediately implement the 17th Replenishment of the World Bank’s International Development Association (IDA-17) fund when the bank announces its allocation for the country, Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh said on March 31.
At a reception for WB Vice President for East Asia and Pacific Axel Van Trotsenburg in Hanoi, Governor Binh was full of praise for the WB assistance to Vietnam, especially the guest’s help in the approval of IDA-17 for the 2014 – 2017 period.
He expressed his hope that the WB will provide IDA-17 at a high level for Vietnam in order to aid the Vietnamese Government to realise socio-economic development targets.
The official also updated the guest about the benchmark interest rate cut by the SBV to encourage credit institutions to give loans to effective projects.
The SBV will expand proactive and flexible monetary policies to curb inflation, stabilise the macro-economy and maintain a reasonable economic growth rate, he added.
Binh affirmed the SBV will successfully restructure credit institutions, thus backing the sustainable development of Vietnam’s banking system.
At the reception, Trotsenburg spoke highly of managing measures taken by the SBV, particularly those related to monetary policies, which have helped constrain inflation, stabilise the macro-economy and ensure social welfare.-VNA
At a reception for WB Vice President for East Asia and Pacific Axel Van Trotsenburg in Hanoi, Governor Binh was full of praise for the WB assistance to Vietnam, especially the guest’s help in the approval of IDA-17 for the 2014 – 2017 period.
He expressed his hope that the WB will provide IDA-17 at a high level for Vietnam in order to aid the Vietnamese Government to realise socio-economic development targets.
The official also updated the guest about the benchmark interest rate cut by the SBV to encourage credit institutions to give loans to effective projects.
The SBV will expand proactive and flexible monetary policies to curb inflation, stabilise the macro-economy and maintain a reasonable economic growth rate, he added.
Binh affirmed the SBV will successfully restructure credit institutions, thus backing the sustainable development of Vietnam’s banking system.
At the reception, Trotsenburg spoke highly of managing measures taken by the SBV, particularly those related to monetary policies, which have helped constrain inflation, stabilise the macro-economy and ensure social welfare.-VNA
