On Friday morning, representatives from the Swiss State Secretariat for Economic Affairs (SECO), the World Bank (WB), and the Da Nang authorities entered into a cooperative agreement on public finance management reform.

Da Nang People’s Committee Chairman Huynh Duc Tho (centre) receiving the support programme for public finance management reform from SECO through WB

This is the first cooperation programme between SECO and WB in supporting a Vietnamese locality to reform its public finance management.

Under the agreement, Da Nang will receive a credit package of 3 million Swiss Francs to implement the reform of public administration management from 2019 - 2025.

Also, the city will be provided with consultancy services about financial strategies, medium-term budget and financial plans, the monitoring and evaluation of the implementation of public services, and debt management.

The cooperative programme is expected to lay a solid foundation for the broader implementation of public financial management reform, and boosting the cooperation amongst the parties involved.