On June 20, 2024, at the headquarters of the State Bank of Vietnam (SBV), the SBV, in coordination with the Asian Development Bank (ADB), organized the Inception Workshop of the digital finance component of the Technical Assistance Project on “Expanding Inclusive and Climate Finance”. Attending the Workshop, there was Mr. Pham Thanh Ha, SBV Deputy Governor; Mr. Jonas Grunder, Economic Cooperation and Development Program Manager of the Swiss State Secretariat for Economic Affairs (SECO); Mr. Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) for Vietnam; as well as the representatives from the SBV entities and the ADB.
The Technical Assistance Project of “Expanding Inclusive and Climate Finance” is one of the key cooperation projects between the ADB and the SBV within the digital finance component under SECO’s support. The project had been developed in accordance with the objectives set out in the ADB’s Country Partnership Strategy for Vietnam for the 2023-2026 period, aiming to support the promotion of green and inclusive growth, as well as to promote the private sector development in Vietnam. This was the first high-level tripartite exchange in the first year of the Project, so that the SBV, the ADB and SECO could discuss about the overall implementation plan, and reach an agreement on the orientations and the means of coordination to effectively implement the Project activities.
Deputy Governor Pham Thanh Ha speaks at the Workshop
Delivering his opening speech, Deputy Governor Pham Thanh Ha emphasized the important role of financial technology (Fintech) in supporting the Government to expand the coverage of financial services to all customers as well as small and medium-sized enterprises (SMEs). The rapid development of Fintech can create a driver for innovations in the provision of financial services. However, it also comes with potential risks. In that context, the SBV highly appreciates and considers this Project to be one of the key support activities aimed at creating a favorable environment for the development of Fintech. The SBV highly treasured the support of SECO and the ADB, not only in terms of finance but also through the valuable experience and knowledge sharing over the past time.
The representative of SECO speaks at the Workshop
The representative of SECO expressed his pleasure at the initial results of the Project, and hoped that the SBV, the ADB and EY (the Project’s consultants) would continue to closely coordinate to effectively implement the Project’s activities in alignment with the established plan. As the representative for SECO, Mr. Jonas Grunder affirmed that SECO is committed to further supporting the SBV in implementing the priorities of the Government, thereby further supporting Vietnamese economic development.
Mr. Shantanu Chakraborty, Country Director of the ADB for Vietnam
Mr. Shantanu Chakraborty, Country Director of the ADB for Vietnam, thanked the SBV and acknowledged SECO’s support in this Project. Mr. Shantanu Chakraborty also made high evaluation for the close coordination among the officers of the SBV, SECO and EY in the Project implementation.
HY