World bank

An employee monitors pipeline of Karaha Unit I geothermal power plant owned by PT Pertamina Geothermal Energy in West Java (Photo: Antara) Jakarta (VNA) – The World Bank (WB) has approved a 150 million USD loan for Indonesia to scale up investments in geothermal energy by reducing the risks of early-stage exploration.  climate-friendly development. Geothermal energy is expected to play a significant role in reducing Indonesia’s greenhouse gas emissions. As a clean and renewable energy source that provides power continuously, geothermal can reduce the country’s dependence on coal-fired power and other fossil fuels. If geothermal resources can be accessed easily, costs are competitive with coal and natural gas. Indonesian Minister of Finance Sri Mulyani said the country’s geothermal sector has vast potential and its current installed geothermal power capacity is already the second largest in the world. Geothermal is environmentally sustainable and … [Read more...] about World Bank supports Indonesia’s geothermal energy development

At the signing ceremony (Photo: VNA)   Hanoi (VNA) – The World Bank (WB) and the State Bank of Vietnam (SBV) on October 1 inked a grant agreement worth 2.2 million USD to implement a project aimed at strengthening the soundness and resilience of Vietnam’s banking sector. The grant, sponsored by the Swiss Government, is designed to improve SBV’s capacity in removing bottlenecks in the banking system’s structure. Under the agreement, the WB will provide technical assistance to launch reforms set in the Restructuring Plan of the Financial System 2016-2020 and the Development Strategy of Vietnam Banking Sector to 2025. At the ceremony, WB Country Director for Vietnam Ousmane Dione said a sound banking system is of great significance to the sustainable economic development of a country. By sharing experience in the development of the system, the WB could help the SBV to successfully launch its structural reforms, he added. The WB will team up with the SBV … [Read more...] about World Bank project to strengthen banking sector’s soundness

The project aims to strengthen the soundness and resilience of the banking sector by enhancing the capacity of the State Bank of Vietnam (SBV) to address structural weaknesses in the banking system. Specifically, the World Bank will provide technical assistance to implement reforms laid out under the Banking Restructuring Plan 2016-2020 and the subsequent 2025 Banking Sector Strategy. “A healthy banking sector, which is the largest segment of Vietnam’s financial system, is fundamental to the country’s sustainable economic growth. By bringing in world-class expertise in banking sector development, we hope that we can support SBV in successfully implementing the structural reforms they are committed to deliver”, said Ousmane Dione, WB Country Director for Vietnam. Challenges of the banking sector include issues of asset quality, weak capitalization and regulatory constraints that inhibit further investment in the sector. In addition, Vietnamese banks have … [Read more...] about WB, Switzerland support Vietnam’s efforts to enhance banking sector

VPBank has helped more than 40,000 women-owned enterprises to gain access to banking loans The award is the IFC's recognition of VPBank as the best issuing-bank partner for small and medium-sized import and export enterprises owned by women in the East Asia and Pacific regions, within the framework of the IFC's Global Trade Finance Program (GTFP). This is the first time that the IFC has granted the award to a Vietnamese bank in order to honor the outstanding achievements of the bank when participating in GTFP. VPBank, along with other award winners, was selected among more than 500 banks from 60 countries and territories across the world. After nearly two years of participation in the GTFP, VPBank has gained impressive achievements in promoting trade finance solutions for import-export and domestic trade activities. As a leading bank in the segment of financing women-owned businesses, VPBank has helped more than 40,000 enterprises to gain access to banking loans. Theo NDO … [Read more...] about IFC names VPBank as best issuing-bank partner for women-owned businesses

Photo: VFF The Vietnam Football Federation (VFF) has co-operated with VinID to launch ticket sales through Vingroup's VinID app in a 3-in-1 service. The app will allow customers to buy tickets, pay, and use a code. This will be the first time that the VFF has distributed tickets in this manner through the VinID mobile app. This method of selling tickets will also be applied to all home matches played by the Vietnamese national team at the My Dinh Stadium during the second qualifying round of the 2022 World Cup. The VFF will also apply a check-in form that features a ticket code for fans. Ticket checks will be made via the app at Door No.5 on the second floor of stand B at the My Dinh stadium. In order to purchase a ticket for the matches in Group G, customers only need to download or update the VinID app on the IOS or Android platform, then open the “Buy Ticket” feature. Once this is done fans simply need to select the ticket option and quantity before making an online … [Read more...] about Ways to purchase tickets for Vietnam – Malaysia World Cup qualifier