Vietnam - Additional Financing for Medium Cities Development Project (WB-P159426)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
Lao Cai, Phu Ly, and Vinh City
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
  • 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
A
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
Jun 9, 2017
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
Socialist Republic of Vietnam, State Bank of Vietnam
The holder of the loan, grant, or other investment.
Sectors
  • Transport
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 53.00 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)
$ 68.06 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 Oct 26, 2017

Disclosed by Bank Oct 1, 2016


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Project Description
According to WB website, the development objective of the Medium Cities Development Project for Vietnam is to increase access to improved urban infrastructure services in Lao Cai City, Phu Ly City, and Vinh City in a sustainable and efficient manner. The proposed Additional Financing (AF) will: 1. Close a financing gap caused by the appreciation of the US Dollar (USD) against the Special Drawing Rights (SDR) 2. Enable scaling-up of activities in two of the three project cities Concurrently, it is proposed a first level restructuring, which includes modifications of the Project Development Objectives (PDO) and Results Framework (RF) of MCDP as set forth in Section III below and to extend the closing date of the original IDA credit to June 30, 2018 and the closing date of MCDP to December 31, 2020.
Investment Description
  • World Bank (WB)
This Project Paper seeks the approval of the Executive Directors to provide an additional IDA Scale-Up Facility (SUF) credit in an amount of USD 40 million and an additional credit of USD 13 million to the Socialist Republic of Vietnam for the Medium Cities Development Project (MCDP). BORROWER/RECIPIENT 15.06 International Bank for Reconstruction and Development 40.00 International Development Association (IDA) 13.00 Total Project Cost 68.06
Contact Information
Team Leader: Huyen Thi Phuong Phan Senior Urban Development Specialist, World Bank Borrower/Client/Recipient: State Bank of Vietnam Contact: Mr. Le Minh Hung, Governor Email Address: tuan.trananh@sbv.gov.vn Implementing Agencies: Project Management Unit (PMU) in Lao Cai Contact: Mr. Nguyen Quang Binh Director of Lao Cai, ODA PMU Emai Addressl: dawblc@gmail.com Project Management Unit (PMU) in Phu Ly Contact: Mr. Nguyen Van Hoc Director of Phu Ly PMU Email Address: banodaphuly.wb@gmail.com Project Management Unit (PMU) in Vinh Contact: Mr. Nguyen Trung Dung Vinh PMU Director Email Address: pmuvinh.wb@gmail.com 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.