Project Name | Financial Sector Development and Inclusion Program | ||||||||
Project Number | 49331-002 | ||||||||
Country | Viet Nam |
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Project Status | Active | ||||||||
Project Type / Modality of Assistance | Technical Assistance |
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Source of Funding / Amount |
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Strategic Agendas | Inclusive economic growth Regional integration |
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Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development |
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Sector / Subsector | Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Money and capital markets |
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Gender Equity and Mainstreaming | Some gender elements | ||||||||
Description | |||||||||
Project Rationale and Linkage to Country/Regional Strategy | |||||||||
Impact |
Project Outcome | |
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Description of Outcome | |
Progress Toward Outcome | |
Implementation Progress | |
Description of Project Outputs | |
Status of Implementation Progress (Outputs, Activities, and Issues) | |
Geographical Location | Nation-wide |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | |
During Project Implementation | On 28 June 2019, Vice President (Operation 2) approved the increase in TA amount by $1,100,000 funded on a grant basis by the Government of Australia through the Department of Foreign Affairs and Trade (DFAT) and administered by ADB, bringing the total TA amount to $2,000,000. The TA closing date was extended by 19 months to 21 April 2021 to provide time to implement the additional activities. Eleven individual experts and two international consulting firms have been engaged under the TA. Key activities completed under output 1 include: (i) review of the legal impediments for resolution of problem banks and non-performing loans; and (ii) a study visit (June 2017) to Singapore to better understand the new supervisory tools to monitor financial stability. Key activities completed under output 2 include: (i) review of the current Law on Securities, Investment, and Enterprise to support the amendment of the law; (ii) capacity development for regulators and market players in derivatives; and (iii) a study visit (December 2018) to the Netherlands to learn about the primary dealer system for government bonds. Under output 3, the following activities were completed: (i) review of the draft National Financial Inclusion Strategy; and (ii) a workshop on financial technology (fintech) (September 2018). Required experts have been engaged to support the following ongoing TA activities: (i) conducting a study on the establishment of a centralized database solution at the Credit Information Centre to support the implementation of the Basel II standardized approach; (ii) reviewing the current taxes and fees applied to the securities market; (iii) conducting a study on microfinance wholesale lending facility; (iv) developing and implementing the fintech regulatory sandbox; (v) developing a financial inclusion website to support financial literacy; (vi) facilitating the adoption of International Financial Reporting Standard (IFRS) in Viet Nam; (vii) supporting the establishment of a credit rating agency for Viet Nam; and (viii) reviewing the current regulations on municipal bonds and developing a comprehensive manual to guide the issuance and debt portfolio management of municipal bonds. |
Responsible ADB Officer | Schuster, Stephen R. |
Responsible ADB Department | Southeast Asia Department |
Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
Timetable | |
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Concept Clearance | - |
Fact Finding | - |
MRM | - |
Approval | 22 Apr 2016 |
Last Review Mission | - |
Last PDS Update | 29 Sep 2020 |
TA 9101-VIE
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
22 Apr 2016 | 10 Feb 2017 | 10 Feb 2017 | 30 Sep 2019 | 21 Apr 2021 | - |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
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ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
900,000.00 | 1,100,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,000,000.00 | 22 Apr 2016 | 831,397.01 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
None currently available.
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Tenders
Tender Title | Type | Status | Posting Date | Deadline |
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Risk-Based Capital Expert | Firm - Consulting | Closed | 02 Sep 2020 | 22 Sep 2020 |
Establishment of a Domestic Credit Rating Agency-International Senior Financial Advisor | Individual - Consulting | Closed | 11 Jan 2020 | 17 Jan 2020 |
IFRS: National Accounting Expert | Individual - Consulting | Closed | 04 Jan 2020 | 10 Jan 2020 |
Establishment of a Domestic Credit Rating Agency-National Legal Advisor | Individual - Consulting | Closed | 02 Oct 2019 | 08 Oct 2019 |
Establishment of a Microfinance Wholesale Lending Facility | Firm - Consulting | Closed | 21 Aug 2019 | 27 Aug 2019 |
Strengthening National Financial Literacy (Web Design & Development Expert ) | Firm - Consulting | Closed | 18 Jul 2019 | 24 Jul 2019 |
Establishment of a Domestic Credit Rating Agency-International Financial Advisor | Individual - Consulting | Closed | 28 May 2019 | 17 Jun 2019 |
Establishment of a Domestic Credit Rating Agency-National Financial Advisor | Individual - Consulting | Closed | 28 May 2019 | 17 Jun 2019 |
International Tax Expert | Individual - Consulting | Closed | 16 Mar 2019 | 22 Mar 2019 |
Derivatives Training Expert (Legal and Regulatory Expert) | Individual - Consulting | Closed | 22 Sep 2018 | 26 Sep 2018 |
International Insurance Law and Regulation Expert | Individual - Consulting | Closed | 22 Sep 2018 | 28 Sep 2018 |
Derivatives Training Expert (Derivatives Products Expert) | Individual - Consulting | Closed | 12 Sep 2018 | 18 Sep 2018 |
National Legal Specialist | Individual - Consulting | Closed | 10 Aug 2018 | 16 Aug 2018 |
National Inclusive Finance Expert | Individual - Consulting | Closed | 22 Jul 2018 | 28 Jul 2018 |
International Money Market Expert | Individual - Consulting | Closed | 18 Jul 2018 | 22 Jul 2018 |
Viet Nam: Review of Bond Market Taxes and Fees | Individual - Consulting | Closed | 30 Jun 2018 | 06 Jul 2018 |
Financial Sector Development and Inclusion Program (national bond market expert) | Individual - Consulting | Closed | 24 Oct 2017 | 30 Oct 2017 |
Review of Bond Market Taxes and Fees | Individual - Consulting | Closed | 07 Sep 2017 | 13 Sep 2017 |
Support to formulate Law on supporting the restructuring of credit institutions and NPL resolution | Individual - Consulting | Closed | 31 Aug 2017 | 06 Sep 2017 |
Contracts Awarded
Contract Title | Approval Number | Contract Date | Contractor | Contractor Address | Executing Agency | Contract Description | Total Contract Amount (US$) | Contract Amount Financed by ADB (US$) |
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Project Preparatory | Technical Assistance 9101 | 21 Dec 2020 | NMG FINANCIAL SERVICES CONSULTING PTE LTD(SINGAPORE) | 109 North Bridge Road #05-21, Singapore, Singapore 179097 | State Bank of Vietnam | 123,070.00 | — | |
Project Preparatory | Technical Assistance 9101 | 25 Nov 2019 | Applied Cross-Cutting Empowerment Strategies & Sol (PHILIPPINES) | 3F Montivar Bldg.,34 Jupiter St.corner P Bel-Air Village, Makati, Manila NCR 1209 (formerly PF Technical Advisory Services | State Bank of Vietnam | Consulting Services | 171,900.00 | — |
Project Preparatory | Technical Assistance 9101 | 18 Jun 2019 | OLIVER WYMAN PTE. LTD. (SINGAPORE) in association with Oliver Wyman Services Limited (UNITED KINGDOM) | 8 MARINA VIEW #09-07 SINGAPORE 018960 | State Bank of Vietnam | Consulting Services | 100,000.00 | — |
Procurement Plan
None currently available.