Viet Nam : COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises

Sovereign Project | 54233-001

Project Name COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises
Project Number 54233-001
Country / Economy Viet Nam
Project Status Active
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 0781-VIE: COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises
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
Project Rationale and Linkage to Country/Regional Strategy

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
Responsible ADB Officer Chu, Minh Thi Hong
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Viet Nam Resident Mission
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
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

Grant 0781-VIE

Approval Signing Date Effectivity Date Closing
Original Revised Actual
09 Dec 2020 22 Dec 2020 12 Apr 2021 30 Jun 2023 - -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 5.02 Cumulative Contract Awards
ADB 0.00 24 Apr 2023 0.00 3.32 66%
Counterpart 0.02 Cumulative Disbursements
Cofinancing 5.00 24 Apr 2023 0.00 4.95 99%
Status of Covenants
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.

  • 18 May 2023 | Video

    Through the Storm: A Story of a Women-Owned Business in Viet Nam

    Hoang Gia, a women-owned tourism company in Viet Nam that was benefited from the ADB’s “ COVID-19 Relief for women-led small and medium sized enterprises “project funded by We-Fi. With ADB support, Hoang Gia could only survived from the pandemic, but also expanded its business. The company has also been able to develop a long-term business strategy with new marketing approach for its sustainable development thanks to ADB- supported one-on-one business counselling program.


No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.