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

Countries
  • Vietnam
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
Jun 9, 2017
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
Socialist Republic of Vietnam, State Bank of Vietnam
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, this amount is converted to USD ($) on the date of disclosure. 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, 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 Oct 26, 2017

Disclosed by Bank Oct 1, 2016

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

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