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 |
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| Project Status | Active | ||||
| Project Type / Modality of Assistance | Grant |
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| Source of Funding / Amount |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP6: Strengthening governance and institutional capacity |
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| Sector / Subsector | Finance / Small and medium enterprise finance and leasing |
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| Gender | Gender equity theme | ||||
| Description | |||||
| Project Rationale and Linkage to Country/Regional Strategy | |||||
| Impact | Economic recovery accelerated. |
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| 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 (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 |
Grant 0781-VIE
| Milestones | |||||
|---|---|---|---|---|---|
| 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 | 23 Oct 2023 | 0.00 | 5.00 | 100% |
| Counterpart | 0.02 | Cumulative Disbursements | |||
| Cofinancing | 5.00 | 23 Oct 2023 | 0.00 | 5.00 | 100% |
| Status of Covenants | ||||||
|---|---|---|---|---|---|---|
| Category | Sector | Safeguards | Social | Financial | Economic | Others |
| Rating | - | Satisfactory | Satisfactory | Satisfactory | - | Satisfactory |
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Evaluation Documents See also: Independent Evaluation
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Related Publications
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Tenders
Contracts Awarded
Procurement Plan
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