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

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
C
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
Sep 17, 2019
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
The 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
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 2.27 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.
Grant Amount (USD)
$ 2.27 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)
$ 2.27 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 Jun 25, 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.

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

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


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/ 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.

How it works

How it works