According to the bank, the project seeks to achieve: "(i) A legal framework better aligned with international standards and good practice including evolving standards for banking resolution; (ii) A more robust regulatory and supervisory framework, reflected in improved compliance with several Basel Core Principles (BCPs), that will help ensure the safety and soundness of the banking system; (iii) A more efficient and effective VAMC equipped with actual tools/mechanisms to resolve NPLs of commercial banks; and (iv) Strengthened SBV's macroprudential management capacity to better anticipate and manage potential risks emanating from the banking sector, thereby enhancing overall financial sector stability."
Risk Category: "Low risk"
Non-WB funding: Vietnam Free-standing Trust Fund Program - 2.27 million USD
Contact at WB
Viet Quoc Trieu
Senior Financial Sector Specialist
Contact at State Bank of Vietnam
Head of World Bank Division - International Cooperation Dept
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