The Vietnam Development Bank

 

Name The Vietnam Development Bank
Chairman Mr. Pham Quang Tung
Established In 2006
Head Office Hanoi
Website www.vdb.gov.vn

 

Vietnam Development Bank (VDB) was established in 2006 according to the Decision of the Prime Minister of Vietnam based on the reorganization of Development Assistance Fund with purpose of implementing investment credit policies and export credit policies. VDB is wholly owned by the Government and is non-profitable. VDB is recognized as a legal entity with chartered capital of VND 15 trillion (USD 75 million) and is expected to increase to VND 30 trillion (USD 1.5 billion) by 2020. The operation time of the bank is 99 years. VDB’s solvency is guaranteed by the Government without compulsory reserve ratio and deposit insurance. This bank is exempted from tax and is not required to make any payments to the State budget. Total asset of VDB in 2013 is USD 15 billion.

 

VDB‘s specific functions and mission are implementing State policies on investment and export credit in line with Government regulations; Managing the on-lending ODA funds delegated by the Government; Receiving trust funds for grant and other grant activities; Providing finance for SME; Mobilizing funds from domestic and foreign institutions; Performing other duties assigned by the Prime Minister.

 

VDB is a development bank to provide finance for projects and development programs as decided by Prime Minister upon economic demand. Current areas in which VDB is actively involved in are infrastructure, education, health care and energy. Another role of VDB as EXIM Bank is to sponsor shortterm credit for some export goods as State‘s decision. Products are buyer credit, seller credit, overseas projects sponsorship. Besides the role of EXIM Bank, VDB is an onlending ODA agency. In addition, VDB supports SME on loans from commercial banks under guarantee scheme in order to ease access to loans. VDB also performs other missions assigned by the Prime Minister.

 

In terms of international cooperation activities, VDB has been building relationships with many multilateral and bilateral financial institutions such as: ADB, World Bank, US Exim, KFW, Citi Bank, Kexim, DBK, CDB, China Exim etc. VDB is also a member of different international financial organizations as ADFIAP, AEBF. Moreover, we are currently working with international financial organizations to implement some big scale projects in Vietnam such as Ha Noi-Hai Phong highway project, Bac Lieu wind power project, etc.

 

Vietnam Development Bank

25A Cat Linh, Dong Da district, Ha Noi, Vietnam

Phone : +84 4 37365 659

Fax : +84 4 37 365672

Website : www.vdb.gov.vn