Vietinbank appointed as service bank for loan of “Poverty Reduction Support V”

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued, on April 1st, Decision No.761/QD-NHNN to appoint the Vietnam Bank for Industry and Trade (Vietinbank) as the service bank for the USD 25 million loan of “Poverty Reduction Support V (group of programs), subprogram 1” under Loan Agreement No 2490-VIE(SF) signed by representatives of the Socialist Republic of Vietnam and the Asian Development Bank (ADB) on December 29th, 2008

The Vietinbank General Director is responsible for providing banking services to the program in line with the regulations set in Decree No. 131/2006/ND-CP, the guidelines of SBV, the Ministry of Finance, and the ADB.

The loan aims at supporting the Government to carry out policy reform needed for the successful implementation of the Socio-Economic Development Plan of the 2006 – 2010 period, aiming at obtaining an average income per capita of more than 1000 USD/ year in 2010.

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