Viet Nam : COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises
Project Details
-
Project Officer
Chu, Minh Thi Hong
Southeast Asia Department
Request for information -
Country/Economy
Viet Nam -
Sector
- Finance
- Project Name
- COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises
- Project Number
- 54233-001
- Country / Economy
- Viet Nam
- Project Status
- Closed
- Project Type / Modality of Assistance
- Grant
- Source of Funding / Amount
Grant 0781-VIE: COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises Source Amount Women Entrepreneurs Finance Initiative US$ 5.00 million - Operational Priorities
- OP1: Addressing remaining poverty and reducing inequalities
- OP2: Accelerating progress in gender equality
- OP6: Strengthening governance and institutional capacity
- Sector / Subsector
Finance / Small and medium enterprise finance and leasing
- Gender
- Gender equity theme
- Description
- Project Rationale and Linkage to Country/Regional Strategy
- Impact
Economic recovery accelerated.
Project Outcome
- Description of Outcome
Businesses of eligible enterprises affected by COVID-19 revived and sustained
Eligible enterprises must qualify as small and medium-sized enterprises by either (i) borrowing for an original principal amount between $5,000 and $1 million or (ii) meeting 2 out of the 3 following sub-criteria: (a) between 10 and 300 employees, (b) total assets between $100,000 to $15 million, and (c) annual sales between $100,000 and $15 million.
Eligible enterprises must also qualify as women-led or women-owned businesses by either (i) being at least 51% owned by a woman or women; or (ii) meeting all of the following 3 sub-criteria: (a) at least 20% owned by a woman or women, (b) a woman as senior or second most senior executive, and (c) at least 30% of the board members are women (where a board exists).
- Progress Toward Outcome
- The project has achieved the intended outcomes. By end of Q3, 2022, both the number of restructured or new loans granted to eligible enterprises and the amount of lending to eligible enterprises restructured or loans to new borrowers granted have exceeded target values.
Implementation Progress
- Description of Project Outputs
Access to finance for eligible enterprises affected by COVID-19 improved
- Status of Implementation Progress (Outputs, Activities, and Issues)
- The project has achieved two out of three set outputs. Project implementation has been progressing during Q3 2022 despite some challenges faced by participating banks. The pace of grant funds channeled to clients, however, has been affected by (i) PBs' constrained credit growth limits, (ii) expiring of the mechanism of restructuring loans and retaining the loan classification groups for affected clients, and (iii) the PBs'concurrent implementation of interest rate subsidy scheme as part of the National Economic Recovery Program.
- Geographical Location
- Nation-wide
Safeguard Categories
- Environment
- C
- Involuntary Resettlement
- C
- Indigenous Peoples
- C
Summary of Environmental and Social Aspects
- Environmental Aspects
- Involuntary Resettlement
- Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
- During Project Design
- During Project Implementation
Contact
- Responsible ADB Officer
- Chu, Minh Thi Hong
- Responsible ADB Department
- Southeast Asia Department
- Responsible ADB Division
- Viet Nam Resident Mission (VRM)
- Executing Agencies
-
Asia Commercial Joint Stock Bank
Joint Stock Commercial Bank for Investment and Development of Viet Nam
Sai Gon-Ha Noi Commercial Joint Stock Bank
State Bank of Vietnam
Tien Phong Commercial Joint Stock Bank
Vietnam Prosperity Joint Stock Commercial Bank
Timetable
- Concept Clearance
- 13 Mar 2022
- Fact Finding
- 23 Apr 2020 to 23 Apr 2020
- MRM
- 23 Jul 2020
- Approval
- 09 Dec 2020
- Last Review Mission
- -
- Last PDS Update
- 25 Oct 2022
Funding
Grant 0781-VIE
| Approval | Signing Date | Effectivity Date | Closing | ||
|---|---|---|---|---|---|
| Original | Revised | Actual | |||
| 09 Dec 2020 | 22 Dec 2020 | 12 Apr 2021 | 30 Jun 2023 | - | 26 Mar 2024 |
| Total (Amount in US$ million) | |
|---|---|
| Project Cost | 5.02 |
| ADB | 0.00 |
| Counterpart | 0.02 |
| Cofinancing | 5.00 |
| Date | ADB | Others | Net Percentage | |
|---|---|---|---|---|
| Cumulative Contract Awards | 06 Jun 2024 | 0.00 | 5.00 | 100% |
| Cumulative Disbursements | 06 Jun 2024 | 0.00 | 5.00 | 100% |
| Category | Sector | Safeguards | Social | Financial | Economic | Others |
|---|---|---|---|---|---|---|
| Rating | - | Satisfactory | Satisfactory | Satisfactory | - | Satisfactory |
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.
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.
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.
Bolstering a Woman-led Business in Viet Nam Brick by Brick
Toan Thang, a women-led, unbaked brick manufacturing company in Viet Nam’s Binh Duong experienced severe cash flow issues during the COVID-19 pandemic. Responding to the situation, the Joint Stock Commercial Bank for Industry and Development of Viet Nam (BIDV) came to Toan Thang’s assistance, deferring principal payments of the company’s loans as ADB provided a grant to help pay the interests incurred during the deferment.
Through the Storm: A Story of a Women-Owned Business in Viet Nam
With help from ADB's COVID-19 Relief for Women-led Small and Medium-sized Enterprises Project funded by We-Fi, Hoang Gia, a women-owned tourism company in Viet Nam survived the pandemic and developed a long-term business strategy through an ADB-supported business counseling program.
Tenders
Contracts Awarded
Procurement Plan
None currently available.