The working session was attended by Dr. Christine Heimburger - East Asia and the Pacific Director, Dr. Hans-Peter Mussig - East Asia and the Pacific former Director, Ms. Birgit Erbel - Office Director of KfW in Hanoi, on the Kfw side, and Ms Dao Dung Anh, Deputy General Director and officials of several VDB departments have joint the meeting
At the working, Mr. Nguyen Quang Dung and Dr. Hans-Peter Mussig, Dr. Christine Heimburger discussed the economic situation of Vietnam , the operation results of the two banks in the past time and their development orientation in the future. They also reviewed the cooperation results achieved in recent years within MOU between the two banks signed on September 4, 2006.
Regarding ODA funding projects, under MOF’s authorization, VDB is managing 22 projects funded by KfW with total commitment of Euro 84 million. These projects are in the fields of infrastructure development, energy, education and hospitals as well as SME’s development. Most of projects supported by KfW are operated effectively in Vietnam.
VDB and KfW have had many cooperation activities especially in fund raising such as the 1st promotion loan worth $ 100 million to finance EX2 and EX-9 packages of Ha Noi – Hai Phong highway project. Currently, VDB and KfW are negotiating a number of development programs projects in Vietnam, including the 2nd promotion loan, environment protection and climate change program, fund for financing small and medium scale hydropower projects, and other environmental projects. KfW also supports VDB through various technical assistance activities such as seminars, consultation and exchange of information as well as send experts to work directly in the VDB.
Mr. Nguyen Quang Dung recognized and highly appreciated cooperation activities in the past. On behalf of the VDB’s leader, Mr Dung expressed sincere thanks to Kfw’s counterparts and colleagues for their enthusiasm in promoting cooperation.
KfW is a financial institution of the Federal Republic of Germany with the initial task is to support reconstruction of German economy devastated after the WW II. Along with Germany’s development, KfW mission is extended. In addition to development financing, KfW is assigned to act as export credit agency (ECA) as well as German ODA management for developing countries including Vietnam. /.
Source: VDB