VIB raise credit line for rural development fund project
Vietnam International Commercial Joint-Stock Bank (VIB) informed that VIB was approved of raising the finance line by VND350 billion on Rural Development Fund (RDF) project by the World Bank (WB). Director of Retail banking VIB Mr. Richard Harris said: “The raising credit line by VND350 billion on RDF project of WB expressed the appreciation of VIB’s achievements by WB and BIDV, which has a key role in this project at Vietnam. With this new credit line, VIB is going to invest, search for feasible small projects to develop rural economics as well as produce more jobs for labours here”.With households, individuals at rural areas as main beneficiaries, VIB’s small projects were assessed as transparent and effective. After 10 years of participating in RDF project, VIB has disbursed the total amount of VND426 billion from the project’s capital. As a result, VIB was considered as one of financial institutions using effectively source of RDF’s capital.Reported by Thanh Son – Translated by Ngoc Huynh
