On September 24, 2018, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Nguyen Kim Anh had a meeting with the World Bank (WB) Mission on TA Project of “Enhancing the Development and Soundness of the Banking Sector in Vietnam”, which was led by Mr. Ganesh Rasagam.

At the meeting, the WB Mission focused on discussing the components of “enhancing the resolution of bad debts and weak banks” and “strengthening financial stabilization and macro safety”, as well as listening to the SBV Management Board’s comments on the design and the overall implementation of the TA Project.
The WB Mission also briefed of the program of strengthening the capacity for the VAMC in 2018-2019. Accordingly, Component 3 will provide the technical assistance and the initial training for the VAMC staff on the appraisal of bad debts and real estate. On that basis, the specialists will make adjustments in accordance with Vietnam’s environment, and assess comprehensively the legal frameworks, the regulations and the market regarding bad debts and assessment of the effects on VAMC’s operations. Component 4 will support the Monetary and Financial Stabilization Department in the formulation of strategies and action plans.
On behalf of the SBV Management Board, Deputy Governor Nguyen Kim Anh expressed his gratitude to the WB Mission for having sent its officers and international specialists to work with the SBV’s entities. He shared that the Project is of great importance for the SBV in the context of the active implementation of Resolution 42 on the pilot resolution of bad debts, Decision No. 1058/QD-TTg of the Government on restructuring credit institutions in association with NPL resolution for 2016-2020 period. He requested the WB Mission together with its specialists to work with the SBV relevant entities to make overall assessments of the legal affairs, the regulations and the market concerning NPL resolution, provide technical assistance for the Monetary and Financial Stabilization Department in the formulation of strategies and action plans…
The two sides believed that, in the coming time, the TA Project of “Enhancing the Development and Soundness of the Banking Sector in Vietnam” will be implemented and obtain fruitful results./.
Source: sbv.gov.vn