Vietcombank signs technical twinning agreement

Vietnam mandates ING-led consortium for technical assistance programme.

Vietnam's central bank, The State Bank of Vietnam, has appointed an ING-led consortium to advise Vietcombank, Vietnam's oldest bank on a range of technical issues. With ING in the consortium are PricewaterhouseCoopers, the Belgian Bankers Academy and Banking Financial Consultancy, a local Vietnamese consulting firm.

The agreement is called a technical twinning agreement and comes as part of a World Bank sponsored poverty reduction support credit that was signed in 2000. Under the terms of the contract, the World Bank will release funds for various programmes aimed at reducing poverty, including state owned enterprise reforms, trade reforms and banking reforms.

This agreement sees the consortium providing Vietcombank with advice...

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