The Vietnam Development Bank (VDB) is established under the Decision No. 108/2006/QD-TTg dated May 19th 2006 by the Prime Minister to execute the state development investment and export credit policies as regulated by the Government.

The organizational and operational regulations of VDB are in accordance with the Decision No. 1515/QD-TTg dated September 3rd 2015 by the Prime Minister.

Financial mechanism of VDB is executed in accordance with the Decision No.44/2007/QĐ-TTg dated March 30th by the Prime Minister. The Vietnam Development Bank is recognized as legal entity with chartered capital, balance sheet, seal and account opened in the state bank of Vietnam, the state treasury, domestic and abroad commercial banks. In addition, it is allowed to participate in the inter-bank payment system and provide  payment services as regulated by the law. The Development Bank inherits all the rights and obligations of the Development Assistance Fund.

The operation of VDB is not profit oriented  purposes; its compulsory reserve ratio is 0% (Zero percent); it should not be required for deposit insurance; it is guaranteed solvency by the Government, free of tax and payments to the state budget for development investment and export credit activities. VDB has inherited all the rights and obligations from DAF.

(Report on operation and development strategies in the period of 2006-2010- July 2006; Decision No. 108/2006/QD-TTg; Decision No.1515/QĐ-TTg)

 The chartered capital of the Vietnam Development Bank, at establishment , was 5,000 billion dong and now increases to 30,000 billion dong.

 Main duties of the Vietnam Development Bank

1. Mobilize and receive capital from domestic and foreign organizations to implement investment and development credit and export credit of the State.

2. Execute the policy of investment and development credit, policy of export credit of the State.

           3. Receive the trust of ODA capital resource management re-lent by the Government; receive the trust and allocation of investment lending and debt retirement of customers from home and abroad organizations through trust receipt contracts between VDB and trust organizations.

4. Provide credit guarantee for SMEs’ loans from comercial banks.

5. Provide payment services to customer and participate in the payment system at home and abroad serving for all the activities of VDB as regulated by the law.

6. Perform duties of international cooperation in the field of investment and development credit and export credit.

7. Perform some other tasks assigned by the Prime Minister.

(The Decision No. 108/2006/QD-TTg and Decree No. 75/2011/NĐ-CP)

 

The Vietnam Development Bank

Tel: (+84-24) 3736 5659

Fax: (+84-24) 3736 5672

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