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Vietnam Today

SBV Governor meets new ADB Country Director

Released at: 11:26, 15/09/2015

SBV Governor meets new ADB Country Director

Both commit to provide ongoing support into the future.

by Hoai An

The Governor of the State Bank of Vietnam (SBV), Mr. Nguyen Van Binh, met with the new Country Director of the Asian Development Bank (ADB) in Vietnam, Mr. Eric Sidgwick, on September 14.

Governor Binh said the central bank would assist and support Mr. Sidgwick during his tenure in the country. The SBV and the Vietnamese Government greatly appreciate the comprehensive relations between Vietnam and the ADB and will work towards boosting them into the future.

Mr. Sidgwick committed to support the policies the government and the SBV have adopted in recent years to maintain macro-economic stability, promote growth, and reduce the risks presented by the uncertainties in the global economy. He pledged to coordinate closely with the SBV and the government to utilize the strengths of ADB, such as financial support, policy advice, and technical assistance.

Governor Binh and Mr. Sidgwick agreed to strengthen the already close coordination in using ADB funds effectively, which will stand at more than $1.2 billion annually from 2016 to 2018.

Vietnam also wants the ADB to provide policy advice and technical assistance in areas of its expertise, such as macro-economic stabilization, economic restructuring, State-owned enterprise restructuring, the development of the banking and finance sector, and raising capital for infrastructure projects and large public-private partnerships.

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