Viet Nam: Enhancing Financial Stability (Scoping)

Sovereign Project | 47302-001

Summary

This S-PATA is designed to scope options for establishing a macroprudential framework and build capacity of the FSD.

The impact of the S-PATA will be stronger interagency and intra-agency coordination on financial stability. The expected outcome of the S-PATA is the SBV has a clear roadmap on developing a well-functioning institutional framework for macroprudential policy and capacity development needs. Stronger interagency and intra-agency coordination will help the SBV to monitor financial soundness and strengthen safeguards against financial instability so as to support restructuring efforts and to develop the banking sector as a solid foundation for macroeconomic and financial developments.

ADB and/or other development partner may consider following up with a larger scale capacity development TA to institutionalize and implement policy recommendations generated from this S-PATA.

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Project Name Enhancing Financial Stability (Scoping)
Project Number 47302-001
Country Viet Nam
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8538-VIE: Enhancing Financial Stability (Scoping)
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Sector / Subsector

Finance - Finance sector development

Gender Equity and Mainstreaming
Description

This S-PATA is designed to scope options for establishing a macroprudential framework and build capacity of the FSD.

The impact of the S-PATA will be stronger interagency and intra-agency coordination on financial stability. The expected outcome of the S-PATA is the SBV has a clear roadmap on developing a well-functioning institutional framework for macroprudential policy and capacity development needs. Stronger interagency and intra-agency coordination will help the SBV to monitor financial soundness and strengthen safeguards against financial instability so as to support restructuring efforts and to develop the banking sector as a solid foundation for macroeconomic and financial developments.

ADB and/or other development partner may consider following up with a larger scale capacity development TA to institutionalize and implement policy recommendations generated from this S-PATA.

Project Rationale and Linkage to Country/Regional Strategy To achieve greater financial stability, the State Bank of Viet Nam (SBV) has requested technical assistance (TA) from the Asian Development Bank (ADB) to setup an institutional framework for macro-prudential policy. This is a key recommendation of the Financial Sector Assessment Program (FSAP) recently conducted by the International Monetary Fund (IMF) and World Bank. Specific outputs in requested TA include: (i) macroprudential policy framework and mechanisms for intra-agency and inter-agency coordination and information exchange, (ii) design of macroprudential policy instruments that best suit Viet Nam's circumstances and current stage of financial sector development, and (iii) medium-term capacity development program for FSD staff.
Impact Stronger interagency and intra-agency coordination on financial stability
Project Outcome
Description of Outcome SBV has established an institutional structure for performing financial stability functions and a clear roadmap for establishing a macroprudential framework and for scaling up its capacity to effectively carry out macroprudential policy
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. Framework options for macroprudential policy and mechanisms for intra-agency and inter-agency coordination and information exchange

2. Design options for macroprudential policy and its instruments that best suit Viet Nam's circumstances and current stage of financial sector development

3. Medium-term capacity building and training program

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design State Bank of Viet Nam. Some key donnors (World Bank, IMF...)
During Project Implementation SBV will be the Executing Agency (EA). The FSD will implement the TA. Other stakeholders include the BSA, commercial banks and relevant agencies. The SBV management will exercise oversight of the S-PATA support.
Business Opportunities
Consulting Services The S-PATA will require a total of 110 days of international consultant inputs and 50 days of national consultant inputs, including an international macroprudential (operation) specialist (65 days intermittent during January-October 2014), an international macroprudential (policy) specialist (35 days intermittent during January-October 2014), an international financial regulatory lawyer (10 days intermittent during January-September 2014), a national financial specialist (30 days intermittent during January-October 2014), and a national administrative assistant (20 days intermittent during January-October 2014).
Responsible ADB Officer Dominic P. Mellor
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Viet Nam Resident Mission
Executing Agencies
State Bank of Vietnam47-49 Ly Thai To Street
Ha Noi, Viet Nam
Timetable
Concept Clearance -
Fact Finding 21 Oct 2013 to 23 Oct 2013
MRM -
Approval 04 Dec 2013
Last Review Mission -
Last PDS Update 28 Nov 2013

TA 8538-VIE

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
04 Dec 2013 - 04 Dec 2013 31 Oct 2014 30 Apr 2015 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 04 Dec 2013 184,370.49

Safeguard Documents

See also: Safeguards

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Evaluation Documents

See also: Independent Evaluation

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