VDB to raise charter capital under new development strategy

The Viet Nam Development Bank (VDB) will raise its charter capital to VND20 trillion (US$952 million) by 2015 and VND30 trillion ($1.42 billion) by 2020 under a new development strategy approved by the Prime Minister.

The additional charter capital is intended to raise the equity of State's total investments and export credits to 10 per cent.

The VDB has three capital sources to raise charter capital, including accumulated capital; business arrangement and development support funds; and the State's annual development expenditure.

The finance ministry will determine the charter capital increase and will identify relevant sources of funds, using the VDB's annual financial statements.

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