Vietnam Payments (IFC-601106)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
National-wide
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 6, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
The National Payment Corporation of Vietnam (NAPAS)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 16, 2017

Disclosed by Bank May 20, 2016


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Project Description
The project will work with relevant industry stakeholders to improve the enabling environment and sector capacity to accelate the adoption of payments and other financial services. Specific support will include enhancing the legal framework, strengthening the financial infrastructure, and promoting innovative payment products and services. Under one of its component, the Project will support The National Payment Corporation of Vietnam (NAPAS) in the development of central payments infrastructure & related services that can help expand access to appropriate digital payments and financial services. NAPAS plans to establish the first Automatic Clearing House (ACH) in Vietnam and provide access to financial infrastructure for payments by financial institutions and/or payment services providers
Investment Description
  • International Finance Corporation (IFC)
Contact Information
*No contact information available* ACCOUNTABILITY MECHANISM OF IFC 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/