World Bank Ready to Help Support Vietnam Banks If Needed
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The World Bank said it is open to a new loan that may provide support for a potential recapitalization of Vietnamese banks, which are struggling with rising levels of bad debt that have slowed credit growth.
“We would certainly be ready to find the resources to bring to the table, additional to what we’re doing, to support them in this area,” Victoria Kwakwa, the agency’s Vietnam country director, in an interview yesterday. “Our sense is they might need some support,” she said, adding that the government has not made such a request.