Vietnam Climate Innovation Center (VCIC) RETF (WB-P155260)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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
B
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
Oct 30, 2015
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
MINISTRY OF SCIENCE AND TECHNOLOGY (MOST)
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Energy
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Potential Rights Impacts
  • Healthy Environment
Only for projects receiving a detailed analysis, a broad category of human and environmental rights and frequently at-risk populations.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.80 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)
$ 5.18 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 @ WB website

Updated in EWS Jul 22, 2019

Disclosed by Bank Aug 3, 2015


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Project Description

The project's objective is to support entrepreneurs and small & medium enterprises (SME) involved in developing local solutions (green growth business) to climate change and increase business activity in the climate technology sector through the establishment of a locally-based climate innovation center, which is called the Vietnam Climate Innovation Center - VCIC. The project is being implementing through 3 components as:

Component I: Establishment of VCIC and its operations.
Component II. Services to clean tech entrepreneurs including Grants to enterprises
Component III. E-portal, online services and database on clean tech.

The project will provide targeted support, mentoring, training and funding facilitation to 48 clean technology ventures in Vietnam over 3 years. Through modeling the VCIC’s deal flow using benchmarks from company data in the region, it is committed that after 3 years, 48 VCIC assisted companies could generate approximately 250 jobs directly and indirectly.

 

Investment Description
  • World Bank (WB)

The proposed project will finance the establishment of a Climate Innovation Center (CIC) in Vietnam through a three year $3.8 million RETF grant. The VCIC will be part of the global network of 7 Climate Innovation Centers (CICs) being launched by the InfoDev Climate Technology Program.

Borrowing Agency 0.38
InfoDev 3.8

Contact Information

Contact point
I.World Bank
Contact: Jana Malinska
Title: Senior Program Officer
Tel: 473-1335
Email: jmalinska@worldbank.org

Contact: Lan Van Nguyen
Title: Senior Operations Officer
Tel: 5777+8730 /
Public Disclosure Copy Public Disclosure Copy
Email: nlan@ifc.org

II.Borrower/Client/Recipient
Name: Ministry of Science and Technology (MOST)
Contact: Mr. Tran Van Tung
Title: Vice Minister
Tel: 84438263387
Email: tvtung@most.gov.vn

III.Implementing Agencies
Name: National Agency for Technology Entrepreneurship and Commercialiization (NATEC)
Contact: Mr. Pham Duc Nghiem
Title: Deputy Director
Tel: 84439454957
Email: pdnghiem@most.gov.vn

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.