Vietinbank appointed as service bank for additional financing to Public Financial Management reform project

The Governor of the State Bank of Vietnam (SBV) issued Decisions No. 1635/QĐ-NHNN on July 22 to appoint the Vietnam Joint-Stock Commercial Bank for Industry and Trade (Vietinbank) as the service bank for the Additional Financing to the Public Financial Management Reform Project funded by the World Bank (WB).

Accordingly, the Additional Financing of the Project is worth SDR 9,200,000 (Equivalent to USD 14 million) under the Amended Financing Agreement and the Restated Development Credit Agreement (Credit Agreements No. 3767-VN and No. 4836-VN) signed by the Socialist Republic of Vietnam and the WB on April 7, 2011.

Vietinbank is responsible for providing banking services to the Project in line with Decree No.131/2006/ND-CP on ODA management, and the guidelines of the SBV, the Ministry of Finance, and the WB.

SBV

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