2:50 PM, 16/09/2014

ADB finances micro-finance development

VGP – The PM has ratified a portfolio for a loan of the“Micro-finance development program – second subprogram” funded by the Asian Development Bank.

Illustration photo

The second subprogram aims to assist the Government in building a dynamic micro-finance sector and strengthening access to low-income customers with diversified and sustainable micro-finance services.

It targets to build a convenient policy and legal system; improve management and supervision capacity for State agencies; and develop competence for financial institutions.

The program's US$ 50 million was sourced from preferential loans of the Asian Development Fund.

The State Bank of Viet Nam was authorized to play the key implementer of the second subprogram./.

By Khanh Phuong

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