THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Japan, ADB help develop VN’s microfinance
VGP – The Japanese Government is ready to work with the Asian Development Bank (ADB) in helping the Vietnamese Government develop the national financial sector officially in a sustainable manner.
Counselor and Chief of the Economic Section of the Japanese Embassy in Viet Nam Hirofumi Miyake made the affirmation at a conference on September 28, co-organized by the ADB and the State Bank of Viet Nam.
Since October 2010, a non-refundable aid worth US$1.5 million has helped semi-formal Microfinance Institutions (MFIs) become formal MFIs.
Earlier, a Policy Advisory Technical Assistance (PATA) worth US$500,000 signed on September 12, 2012, also targets to support the Vietnamese Government in realizing regulations on microfinance and establishing financial and legal advantages for credit organizations.
PATA is part of the Microfinance Development Program US$40 million sponsored by the ADB.
By Thuy Dung