ADB finances VN to develop SMEs
07:28 | 26/07/2008
VGP – The State Bank of Việt Nam (SBV) and the Asia Development Bank (ADB) on July 25 signed several non-refundable technical assistant agreements to help Việt Nam prepare its 2nd Small and Medium Enterprises (SMEs) Development Program and the Project on promoting professional skills.

The signing ceremony of technical assistant agreements between SBV and ADB – Photo: VGP

The loan, funded by the Japanese Government, is totally worth of US $1.1 million, out of which US $500,000 is given to the SMEs Program with a view to further improving Việt Nam’s business environment.

Under the Program, which will last for 22 months, a policy package will be designed and implemented from 2008 to 2010.

The remaining US $600,000 will be poured into qualifying skilled labor force for key industries and services, focusing on assessing trainees, identifying major vocational training issues, setting up a long-term strategy for improving vocational training, and designing a project to address difficulties of the labor market.

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