January 2013: CIDA, Cowater and CRC Sogema Sign Contract for New 5-year Project to Improve Banking Regulation and Supervision in Vietnam
This $10M project, funded by the Government of Canada through the Canadian International Development Agency (CIDA), is intended to support the State Bank of Vietnam (SBV) in undertaking a reform process that will see the implementation of international standards in banking regulation and supervision. The project will provide technical assistance in three priority areas:
- Progress toward compliance with prioritized components of the Basel Core Principles;
- Implementation of risk-based supervision for the banking sector; and,
- Implementation of the Basel II capital adequacy framework.
The initiative is entitled the Banking Regulations and Supervision Support (BRASS) project. Cowater is the lead project implementer, while the staff of the Banking Supervision Agency (BSA) of the SBV will be the primary beneficiaries. It is anticipated that BRASS will make a significant contribution toward the development of a more stable and credible financial system in Vietnam.
This project will be managed by Cowater’s Financial Institutions Group.