Vietnam: Strengthening Banking Sector Soundness and Development (WB-P171375)

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
C
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
Sep 17, 2019
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
The State Bank of Vietnam
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.27 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 2.27 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)
$ 2.27 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 Mar 27, 2020

Disclosed by Bank Jun 25, 2019


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Project Description

According to the bank, the project seeks to achieve:

"(i) A legal framework better aligned with international standards and good practice including evolving standards for banking resolution;

(ii) A more robust regulatory and supervisory framework, reflected in improved compliance with several Basel Core Principles (BCPs), that will help ensure the safety and soundness of the banking system;

(iii) A more efficient and effective VAMC equipped with actual tools/mechanisms to resolve NPLs of commercial banks; and

(iv) Strengthened SBV's macroprudential management capacity to better anticipate and manage potential risks emanating from the banking sector, thereby enhancing overall financial sector stability."

Risk Category: "Low risk"

Investment Description
  • World Bank (WB)

Non-WB funding: Vietnam Free-standing Trust Fund Program - 2.27 million USD

Contact Information

1/ World Bank Contact
Viet Quoc Trieu
Senior Financial Sector Specialist
5777+7329

Katia D’Hulster

Lead Financial Sector Specialist

Tel No.: 5740+6429/

2/ Borrower/Client/Recipient

Borrower: The State Bank of Vietnam

Contact: Vu To

Title: Director General of the International Cooperation Department

Tel No: 842439343361

Email: vu.tohuy@sbv.gov.vn

Contact: Tien Tran

Title: Head of World Bank Division - International Cooperation Dept

Tel No: 842439343361

Email: tien.tranquang@sbv.gov.vn

Implementing Agencies

Implementing Agency: Ministry of Finance

Title: Director General of the Banking and Financial Institution Department

Tel No: 842422202828

Emai: phanthuhien@mof.gov.vn

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.