On July 26, 2023, in Hanoi, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) had a meeting with Mr. Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) for Vietnam.
Governor Nguyen Thi Hong meets the ADB Country Director for Vietnam
Welcoming the working visit of the ADB mission to the SBV, Governor Nguyen Thi Hong thanked and expressed high evaluation for the cooperation of the ADB in support of the formulation of various strategies and policies for the socio-economic development in Vietnam in general and for the growth of the banking sector in particular.
Governor Nguyen Thi Hong also congratulated Mr. Shantanu Chakraborty on his appointment as the ADB Country Director for Vietnam, and acknowledged the long-term cooperative relations between the SBV and the ADB over the years. The SBV Governor expressed her hope that Mr. Shantanu Chakraborty, with nearly 20 years of experience in different positions at the ADB, and his practical expertise from the implementation of multiple projects in various countries, would help to further tighten the good cooperative relations between the ADB and Vietnam in general, and between the ADB and the SBV in particular.
The SBV Governor mentioned that this year would be special, with the celebration of the 30th anniversary of the re-establishment of the credit relations between the ADB and Vietnam. Over the past 30 years, the ADB and other multilateral development banks have accompanied and supported Vietnam in opening new credit relations with other partners, coordinated the international funding resources in support of Vietnam’s socio-economic development, etc. Beside the financial assistance, Governor Nguyen Thi Hong also expressed her appreciation to the ADB for its technical assistance and policy consultancy, etc.
Sharing about the management measures, the SBV Governor emphasized that, over the past time, the SBV has continued to closely monitor the macro-economic situations, the developments in the international and domestic markets, managed the monetary tools in a prudent and flexible manner, contributing to controlling the inflation, supporting the economic growth, maintaining the stability of the money and the forex markets, controlling the credit growth at an appropriate level, focusing credit on production and business activities, the priority fields, and the drivers for the economic growth.
Thanking the SBV Deputy Governor for her time and the warm hospitality, Mr. Shantanu Chakraborty, ADB Country Director for Vietnam, expressed high evaluation for the successes of the Government of Vietnam and the SBV in maintaining the macro-economic stability and the economic development over the past time.
He also confirmed that the ADB is committed to accompanying and supporting the Government and the SBV in various areas to overcome the difficult period with many potential risks and unprecedented developments around the world; continue to support the reviews and formulation of policies, the training and strengthening the capacity of the SBV’s staff, etc. Moreover, Mr. Shantanu Chakraborty also shared about the ADB’s strategy and operational orientations in Vietnam, especially the investments in the private sector. He further proposed that the SBV cooperate with the ADB in the organization of an event celebrating the 30th anniversary of the establishment of the credit relations between the ADB and Vietnam, which would help to further strengthen and deepen the cooperative relations between the two sides.
The participants take a group photo.
The SBV Governor thanked the ADB for having mobilized a non-refundable grant worth USD 7 million from SECO and Japan to implement the technical assistance (TA) for the Project “Vietnam: Expanding Inclusive and Climate Finance”. The SBV Governor hoped that this TA would be implemented at an early stage and would contribute to the successful implementation of the Government's policy on inclusive growth, as well as provide the needed financial resources for the realization of Vietnam’s commitments made at COP26. The SBV Governor also expressed her pleasure at the adoption of the ADB and Vietnam Country Partnership Strategy for the period of 2023-2026. With the theme of "Promoting inclusive, green and private-sector-led growth", the SBV Governor hoped that the ADB would assist Vietnam in effectively addressing the current challenges, developing a green economy, responding to the climate change impacts, enhancing the public services, supporting the investment needs of the provinces, and developing the private sector.
SBV Governor Nguyen Thi Hong presents the Commemorative Medal for the Development of Vietnam Banking System to Mr. Andrew Jeffries
On this occasion, the SBV Governor presented the Commemorative Medal for the Development of Vietnam Banking System to Mr. Andrew Jeffries, former ADB Country Director for Vietnam, to acknowledge his important contributions to the promotion and the development of the cooperative relations between the ADB and Vietnam.
Le Hang