Vietnam to decide on accession to EDB by year-end of 2014

During the visit to Hanoi, Mr Igor Finogenov, Chairman of the Management Board at EDB, held talks with Governor of the State Bank of Vietnam Nguyen Van Binh. "The sides discussed the accession of this country to the EDB. In particular, they agreed that Vietnam will make a final decision by the end of this year. They also talked over the possibility to discuss the issue at a meeting of the Vietnamese authorities with their Russian counterparts in the autumn of 2014," the EDB press center said.

Besides, on the initiative of the Vietnamese side, the working group held a meeting with the participation of EDB representatives. The delegation of the bank also met with representatives of several Vietnamese ministries. For example, representatives of the State Bank of Vietnam informed the EDB delegation about the status of talks with Kazakhstan and Russia. Both main EDB shareholders showed interest in the accession of Vietnam to the bank, BelTA reports.

The Vietnamese side suggested a number of investment projects. "The EDB will give a preliminary consideration to the projects simultaneously with its work on the accession of Vietnam to the bank. The Vietnamese side got especially interested in the possibility of participation of the EDB in projects to upgrade seaports, railways, and build an airport near the Ho Chi Minh City," the press center noted. A representative of the Vietnamese Ministry of Planning and Investment, which is the final approving agency for Vietnam's application to join the EDB, suggested arranging another working visit of the EDB delegation to Vietnam for a more thorough consideration of the possible investment projects in the near future.