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

Countries
  • Vietnam
Geographic location 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
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
Oct 30, 2015
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
MINISTRY OF SCIENCE AND TECHNOLOGY (MOST)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 3.80 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)
$ 5.18 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 @ WB website

Updated in EWS Apr 4, 2021

Disclosed by Bank Aug 3, 2015

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

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

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
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.

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.

How it works

How it works