Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong had a courtesy meeting with International Finance Cooperation (IFC) Director for East Asia & the Pacific region -Mr. Vivek Pathak, at the SBV headquarter on March 16th, 2016.
At the meeting, Deputy Governor Nguyen Thi Hong spoke highly of the Vietnam– IFC cooperation and appreciated IFC’s support in numerous activities, such as: Supporting SBV in formulating regulations on environment and social risk management and boosting green credit; Establishing a handbook on information transparency for Vietnamese commercial banks published in Jan 2016; Cooperating to develop credit report system to enhance the the capability of SBV in supervising credit information companies and raising public awareness of credit information; Developing neccesary mechanisms in order to protect consumers using financial services...
Deputy Governor Nguyen Thi Hong emphasized that the Government of Vietnam highly appreciated IFC’s support in social-economic development of Vietnam. The participation of such experienced foreign investors including IFC is significant to the process of restructuring credit institutions in Vietnam.
Mr Vivek Pathak asserted, that IFC is ready to support and cooperate with Vietnam in various sectors, such as: infrastructure development, manufacturing and agricultural services., etc.
IFC, a member of World Bank Group, is established with a view to support private sector development in member countries via main activities as follows: (i)lending capital and long term loans, providing loan guarantee, offering risk management products and customer services; (ii) supporting investors and financial partners in risk management; (iii) offering consultant support in relevant fields.
IFC’s investment has been consecutively increasing (from around 100 million USD prior to 2007 to more than 1.4 billion USD in fiscal year of 2014). In total, IFC’s investment in Vietnam has reached nearly 4.7 billion USD, making Vietnam ranked second after China in terms of total IFC’s new investment in East Asia - Pacific.