fbpx 49331-002: Financial Sector Development and Inclusion Program | Asian Development Bank

Viet Nam: Financial Sector Development and Inclusion Program

Sovereign (Public) Project | 49331-002 Status: Active

Project Details

Project Officer
Schuster, Stephen R. Southeast Asia Department Request for information
Country
  • Viet Nam
Modality
  • Technical Assistance
Sector
  • Finance
 
Project Name Financial Sector Development and Inclusion Program
Project Number 49331-002
Country Viet Nam
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9101-VIE: Financial Sector Development and Inclusion Program
Technical Assistance Special Fund US$ 900,000.00
TA 9101-VIE: Financial Sector Development and Inclusion Program (Supplementary)
Government of Australia US$ 1.10 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Money and capital markets

Gender Equity and Mainstreaming Some gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact
Project Outcome
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
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
Executing Agencies
State Bank of Vietnam
47-49 Ly Thai To Street
Hanoi
Vietnam
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 22 Apr 2016
Last Review Mission -
Last PDS Update 29 Sep 2020

TA 9101-VIE

Milestones
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
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 692,777.28

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.

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The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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.


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Requests for information may also be directed to the InfoUnit.

Tenders

Tender Title Type Status Posting Date Deadline
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-National Financial Advisor Individual - Consulting Closed 28 May 2019 17 Jun 2019
Establishment of a Domestic Credit Rating Agency-International Financial Advisor Individual - Consulting Closed 28 May 2019 17 Jun 2019
International Tax Expert Individual - Consulting Closed 16 Mar 2019 22 Mar 2019
International Insurance Law and Regulation Expert Individual - Consulting Closed 22 Sep 2018 28 Sep 2018
Derivatives Training Expert (Legal and Regulatory Expert) Individual - Consulting Closed 22 Sep 2018 26 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$) Contract Amount Financed by ADB (US$)
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.