Vietnam Scaling Up Energy Efficiency Project (WB-P164938)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
  • 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
FI
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."
Borrower
SOCIALIST REPUBLIC OF VIETNAM
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 262.30 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.
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 16, 2024

Disclosed by Bank Jun 19, 2019

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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.

The Project complements the existing Vietnam Energy Efficiency for Industrial Enterprises Project (VEEIE) by supporting similar energy efficiency investments in the industrial sector and sharing implementation arrangements. According to the bank document, the project consists of 2 components: 

Component 1: Risk Sharing Facility (RSF). The RSF will provide partial credit guarantees (RSF guarantees) to participating financial institutions (PFIs) to cover potential defaults on loans (PFI Loans) provided by PFIs to industrial enterprises (IEs) and energy service companies (ESCOs) to finance eligible energy efficiency sub-projects (Sub-Projects). RSF Guarantee is expected to mobilize private sector lending and equity and contribute to opening up a market for commercially financed energy efficiency investments. IE/ESCO borrowers would benefit from access to financing at competitive terms and with low collateral requirement.

Component 2: Technical Assistance (US$8.3 million GCF Grant)

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

Co-financing:

Green Climate Fund US$ 11.3 million
Commercial Financing Guaranteed US$ 100.50 million
Unguaranteed Commercial Financing US$ 150.50 million


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.

1/Borrower/Client/Recipient

SOCIALIST REPUBLIC OF VIETNAM
Name: An Ha Hai
Title: Deputy General Director
Email: an.hahai@sbv.gov.vn

2/Implementing Agencies
General Directorate of Energy, Ministry of Industry and Trade
Name: Cuong Dang Huy
Title: General Director
Email: CuongDH@moit.gov.vn

FOR MORE INFORMATION CONTACT

The World Bank

1818 H Street, NW Washington, D.C. 20433

Telephone: (202) 473-1000

Web: http://www.worldbank.org/projects

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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