On the occasion of Vietnam Communist Party General Secretary Nguyen Phu Trong’s official visit to the U.S, Governor Nguyen Van Binh of the State Bank of Vietnam (SBV), on behalf of the State President, joined Mr. Axel Van Trotsenburg, Vice President of the World Bank (WB), in signing four cooperation agreements totaling USD 507 million in Washington D.C on July 9.
The funding will be steered to four projects namely Sustainable agriculture transformation, Stock competitiveness and food safety, the Second Phase of the poverty reduction Project in the northern mountainous region, and Green transport in Ho Chi Minh City.
This is the first time the signing of cooperation agreements between Vietnam and the WB has been organized in the U.S under the witness of the CPV General Secretary Nguyen Phu Trong and other CPV senior officials, reflecting the high commitment of the Party and the State leaders for the implementation of the objective of socio-economic development, poverty reduction, international integration, and the contribution to enhancing the relation between Vietnam and the WB. At the same time, this event also showed the WB’s fruitful support for the economic development and poverty reduction in Vietnam.
Speaking at the ceremony, Vice President Axel Van Trotsenburg emphasized that over the past time, the cooperative relation between WB and Vietnam has obtained positive results, contributing to the socio – economic development, poverty reduction and environment protection… in Vietnam. He said that Viet Nam is one of the biggest international development association recipients and the WB commits to share experience with Vietnam and actively support for Viet Nam’s development process.
For his part, SBV Governor Nguyen Van Binh express his sincere thanks for the WB’s efficient support and hope that the WB will continue accompanying and supporting for the sustainable development of Vietnam.
* Previously, on July 8, 2015, on the occasion of Vietnam – U.S Business Forum held in Washington D.C, SBV Governor Nguyen Van Binh granted to the leader of the Citibank the letter of announcement of approving in principle the Citibank’s request of establishing a wholly foreign owned bank in Vietnam.
The license grant to Citibank will be implemented in compliance with the applicable regulations after the Citibank completes all necessary procedures to establish a wholly foreign owned bank in Vietnam.
TLH