World Bank Country Director for Viet Nam, Victoria Kwakwa (left) and Governor of SBV, Nguyen Van Binh, at the signing ceremony on Friday. — Photo hanoimoi

HA NOI (Biz Hub)— The State Bank of Viet Nam (SBV) and the World Bank on Friday signed a US$55 million credit deal to improve the quality of life for the poor. It will provide affordable technological solutions in traditional herbal medicine, information/communication technology applications and agriculture/aquaculture.

The credit will help to develop and deliver high performance products and technological solutions at an affordable cost for the benefit of the poorest.

"This initiative supports the dual objectives of strengthening productivity through greater use of technology and continuing to reduce poverty," said Victoria Kwakwa, the World Bank Country Director for Viet Nam.

"We look forward to the innovative technologies that will make a difference in the lives of ordinary Vietnamese."

Viet Nam has a strong tradition, capacity and strategic interest in the prioritised areas.

The initiative also means to help policymaking agencies enhance their proficiency in supervising, implementing and evaluating policies. — VNS