The framework agreement on of the Small & Medium Enterprise Finance Programme (SMEFP III) was signed on March 17 among the Management Board for International Credit Projects of Official Development Assistant, the State Bank of Vietnam (SBV) and 17 financial institutes including state commercial banks and private commercial banks.

SBV and other financial institutes involved in the agreement will also be provided with technical assistance to improve the capacity of small and medium sized enterprises under these agencies.

The SMEFP, sponsored by the Japanese government through the Japan Bank for International Cooperation (JBIC), was implemented in 2003 in two phases with medium and long term capital of nearly 9 billion Yen.