BT20 National Highway 20 (MIGA-1324)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Dau Giay, Dong Nai province to Dran Town, Lam Dong province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 20, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Sumitomo Mitsui Banking Corporation
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Mar 29, 2019

Disclosed by Bank Apr 24, 2013

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

On March 7, 2014, MIGA issued a guarantee of $500 million covering a loan from a syndicate of commercial banks to support the construction financing of the BT20 National Highway 20 Project in Vietnam. Sumitomo Mitsui Banking Corporation (SMBC) is serving as the political risk insurance agent for the lenders that include Goldman Sachs as the lead arranger and 10 other international commercial banks. The coverage is for $500 million against the risk of non-honoring of sovereign financial obligations for a period of up to 15 years.

The project consists of the rehabilitation and upgrading of the National Highway 20 that extends from the Dong Nai to Lam Dong provinces of Vietnam, under a build-transfer contract between the BT20 Consortium and the Ministry of Transportation. The NH20 road is a connector road for the Ho Chi Minh City-Dalat (Central Highlands-South Central Coastal Ports) corridor.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

MIGA issued a guarantee of $500 million covering a loan from a syndicate of commercial banks to support the construction financing of the BT20 National Highway 20 Project in Vietnam.

Sumitomo Mitsui Banking Corporation (SMBC) is serving as the political risk insurance agent for the lenders that include Goldman Sachs as the lead arranger and 10 other international commercial banks. The coverage is for $500 million against the risk of non-honoring of sovereign financial obligations for a period of up to 15 years.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Office Address
BT20-Cuu Long Office
649/36 Dien Bien Phu Street, Ward 25, Binh Thanh District,
Ho Chi Minh City, Viet Nam.

PMU7 Office
63 Nguyen Xi Street, Ward 26, Binh Thanh District,
Ho Chi Minh City, Viet Nam.

ACCOUNTABILITY MECHANISM OF MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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