Vietnam seeks IFC’s advice on credit institutions

Vietnam wants to consult the International Financial Company (IFC)’s about restructuring credit institutions, developing banking services and payment system and improving legal documents, said a senior official of the State Bank of Vietnam (SBV).

While meeting with Farida Khambata, IFC Vice President for Asia and Latin America in Hanoi on September 18, SBV Deputy Governor Nguyen Van Binh spoke highly of IFC assistance to Vietnam over the past time, especially in calling for foreign investments into the country.

The IFC representative briefed the Deputy Governor about her company’s investment strategy in finance and banking and its assistance plans for developing financial service infrastructure.

IFC, as the private sector arm of the World Bank, finances private sector ventures and projects in developing countries in order to reduce poverty and improve people’s living standards. It also provides technical assistance and advice for governments and enterprises.

VNA

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