2023-05-05 03:28:00
AfDB – Switzerland: five million USD in Vietnam to improve fintech
The Asian Development Bank (AfDB) and Switzerland have signed a co-financing agreement of up to five million USD to develop financial technologies (fintech) to solve the low financial inclusion in Vietnam, in particular for small and medium-sized enterprises (SMEs).
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This funding, along with a two million USD contribution from the Japan Fund for a Prosperous and Resilient Asia-Pacific funded by the Japanese government, will support a technical assistance (TA) project that aims to scale up climate and inclusive finance in the country.
| Technical assistance will help improve women’s access to finance. |
| Photo : VNA/CVN |
Technical assistance will help improve women’s access to finance, including providing training opportunities on fintech and green banking best practices to staff of the State Bank of Vietnam (SBV), targeting a 25% female participation. It will also provide consulting services to SMEs on the preparation of green loan applications.
It will also help the State Bank of Vietnam to refine its green banking policies and communicate them to financial sector actors. The green bank is expected to help Vietnam secure the USD 11 billion annual financing needed to reach its ambitious goal of net zero carbon emissions by 2050.
VNA/CVN
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