3:26:37 PM | 7/8/2005
Vietnam and Germany governments on April 8 signed a credit agreement worth EUR14 million, which will be funded through the later’s KFW bank, to help the developing country to carry out a program to boost the development of small- and medium-sized enterprise (SMEs).
The agreement was signed in Hanoi last Thursday between representatives of the Vietnamese Ministries of Finance, and Planning and Investment, and the KFW Bank.
The SME development program costing US$125-million will also receive US$60 million from the Asian Development Bank (ADB) and EUR35 million from the French Development Agency (AFD).
Under the program, measures will be implemented to help develop SMEs while the Vietnam’s government will continue its pledges (with donors) on licensing and administrative procedure reforms and setting up market and corporate information systems.
The same day, the KFW Bank also signed an agreement with the Finance Ministry and the State Bank of Vietnam (SBV), the country’s central bank, to provide EUR370,000 in non-refundable aid for the SBV to conduct policy reform with the aim of improving SMEs' access to financial sources.
Vietnam Economic Times, VNA
Vietnamese
