LienViet Post Bank appointed as service bank for Local Development Investment Fund Project

The Governor of the State Bank of Vietnam (SBV) issued Decision No. 2623/QĐ-NHNN on December 12 to appoint the LienViet Post Joint-Stock Commercial Bank (LienViet Post Bank or LPB) as the service bank for the Local Development Investment Fund Project funded by the World Bank (WB).

The Local Development Investment Fund Project is worth USD 190 million under  Credit Agreement No. 4609-VN signed by the Socialist Republic of Vietnam and the WB on August 12, 2009.

Under this Decision, the Chairman and General Director of the LienViet Post Bank are responsible for providing banking services to the project in line with Decree No.131/2006/ND-CP of the Government dated November 9, 2006 on the Regulations of management and utilization of Official Development Assistance and the guidelines of SBV, the Ministry of Finance and the WB.

The Decision took effect on the date of signing and replaces Decision No.2231/QD-NHNN of the SBV Governor dated September 24, 2009

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