The State Bank of Viet Nam (SBV) is the governing body of the US$1 million project, which aims to support the preparation and completion of policy actions for the implementation of FSDP-SP1.

By implementing the technical support project, the SBV will be able to improve regional financial stability, further develop the non-banking financial sector and accelerate comprehensive financial promotions through completing legal frameworks and enhancing capabilities of management agencies in the banking and financial systems.

The project will be implemented from 2016 to 2019.

The PM has assigned the SBV to approve and organize the implementation of the technical support project, finalize a report recommending an investment plan for FSDP-SP1, and work with relevant agencies to promptly complete policy actions pursuant to the committed schedule.

The Ministry of Planning and Investment is responsible for working with the Finance Ministry and the SBV to build measures for the use of loans, ensuring the ADB loans be used in the most effective and practical fashion. The ministry will also have to submit the portfolio of FSDP-SP1 to the PM for consideration and decision.

By Vien Nhu