Transactions at SHB. The bank has been designated to serve in a World Bank project to assist low-income people and domestic businesses. — Photo cafebiz.vn

HA NOI (Biz Hub) ― Sai Gon – Ha Noi Bank (SHB) has been named by the State Bank of Viet Nam to serve in a World Bank project to assist low-income people.

SHB will be responsible for distributing official development assistance (ODA) capital and other preferential loans, which total about US$55 million, with lending terms of 25 years.

The loans have an interest rate of 1.25 per cent per year and an annual service charge of 0.75 per cent.

The project supports the development and commercialisation of renovation technologies, and helps in boosting global knowledge transfers and enhancing the ability to properly manage projects.

The programme seeks to improve Viet Nam's ability to adapt technology to serve low-income people and also improve the efficiency and performance of domestic companies, according to the State Bank. ― VNS