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Banking & Finance

SBV pays tribute to GIZ Vietnam

Released at: 10:34, 09/12/2016

SBV pays tribute to GIZ Vietnam

Photo: SBV/Courtesy

German assistance developing the financial sector has been crucial to Vietnam's economic growth.

by Anh Duy

The State Bank of Vietnam (SBV) held an awards ceremony to honor GIZ Vietnam leaders and managers with the Diploma of Merit and Commemorative Medal, given by the SBV Governor on December 8.

Since 1993, the German government through GIZ has repeatedly organized large scale programs and projects to support the Vietnamese banking system in its projects to develop in a sustainable manner.

The Ambassador of the Federal Republic of Germany in Vietnam Mr. Christian Berger, witnessed Deputy Governor of SBV Mr. Nguyen Dong Tien award the Diploma to the Country Director of GIZ Vietnam, Mr. Jochem Lange.

The Commemorative Medals for contribution to the development of the Vietnam Banking system have been awarded to Mr. Lange, GIZ's Chief Technical Advisor and Program Director in Viet Nam, Dr. Michael Krakowski, and other managers and staff of the program to acknowledge the significant contributions of individuals and GIZ in helping to reform and develop the Vietnam banking system.

SBV’s Governor highly praised the value of GIZ during the recent times of banking changes, seeing this as a symbol of the “deep, trusted, sincere friendship” and expressed the hope that SBV would continue to receive the support from the German government via the Embassy of the Federal Republic of Germany in Vietnam and GIZ.

’The Prime Ministers of both countries have mutually agreed that the project of developing the financial system as part of the strategic cooperation relationship is especially valuable in the Hanoi Joint Statement issued in October 2011”, said Ambassador Berger.

GIZ has actively cooperated and supported SBV to finalize the necessary mechanisms and regulatory framework.  This has allowed the central bank to fulfill its function as well as ensuring a safe and effective operation for the banking system.

The German organization has played a huge role in helping to design the Law on State Bank of Vietnam, the Law on Credit Institutions, monetary policies and especially the open market operations, anti-dollarization strategy and planning, the internal management framework and internal audits for commercial banks.

GIZ has also always focused its efforts on improving the capacity of bank staff. GIZ and SBV have held comprehensive basic and in-depth vocational training programs both in Vietnam and overseas for banking directors and experts.

With its Macroeconomic Reforms - Green Growth Program, GIZ has been actively cooperating with SBV to finalize the mechanism and policy framework while at the same time improving the capacity of the finance-banking-green credit, helping the central bank to successfully implement the green growth mission and reform the economy in a sustainable manner.

Even though the implementation of the program has not been long, GIZ has made remarkable contributions to the writing of many policies and initiating projects, laying the foundation for the reform and development of the green banking in the future.

In order to implement the National Strategy for Green Growth and the National Action Plan on Green Growth for the 2014 – 2020 period, the SBV's Governor issued Directive No.03 dated in 2015 to promote green credit and social and environmental risk management in the credit activities.

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