VDB urged to restructure for sustainable development

Monday, 2016-02-15 11:28:01
 Font Size:     |        Print
 

Head of the Party Central Committee’s Economic Commission Vuong Dinh Hue speaking at the meeting. (Credit: vdb.gov.vn)
 Font Size:     |  

NDO/VNA – The Vietnam Development Bank needs to accelerate restructuring for more effective operation and sustainable development, Head of the Party Central Committee’s Economic Commission Vuong Dinh Hue has said.  

During his New Year visit to the bank on February 14, Hue urged the Bank to focus on mobilising resources and handling bad debts in accordance with the Prime Minister’s instructions.

Acting Chairman of the Bank Nguyen Quang Dung said the bank has to date mobilised over VND47.44 trillion (US$2.12 billion) and US$135 million.

It has provided funding for 1,321 projects, totaling nearly VND208 trillion (US$9.23 billion), with VND180.6 trillion disbursed so far.

The bank is also managing 460 foreign-funded projects with total committed capital of US$13.24 billion, according to Dung.

He reported that the banks’ total outstanding debt as of December 31, 2015 stood at more than VND314 trillion, up 4.3% from one year ago.