Viet Nam : VinFast Electric Mobility Green Loan Project
The facility will support investment in electric buses, electric bus manufacturing facilities, and electric vehicle charging stations and related costs undertaken by VinFast Trading and Production Joint Stock Company in Viet Nam.
Project Details
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Project Officer
Nath, Kiron
Private Sector Operations Department
Request for information -
Country/Economy
Viet Nam -
Modality
-
Sector
- Transport
| Project Name | VinFast Electric Mobility Green Loan Project | |||||||||||||||||||||||||
| Project Number | 55327-001 | |||||||||||||||||||||||||
| Borrower / Company | VinFast Trading and Production Joint Stock Company |
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| Country / Economy | Viet Nam |
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| Location | Nation-wide | |||||||||||||||||||||||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP4: Making cities more livable |
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| Sector / Subsector | Transport / Road transport (non-urban) |
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| Gender | Some gender elements | |||||||||||||||||||||||||
| Responsible ADB Department | Private Sector Operations Department | |||||||||||||||||||||||||
| Responsible ADB Division | Portfolio Management Division, PSOD | |||||||||||||||||||||||||
| Responsible ADB Officer | Nath, Kiron | |||||||||||||||||||||||||
| Project Sponsor(s) | Vingroup Joint Stock Company |
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| Description | The facility will support investment in electric buses, electric bus manufacturing facilities, and electric vehicle charging stations and related costs undertaken by VinFast Trading and Production Joint Stock Company in Viet Nam. | |||||||||||||||||||||||||
| Objectives and Scope | ||||||||||||||||||||||||||
| Linkage to Country/Regional Strategy |
| Safeguard Categories | |
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| Environment | B |
| Involuntary Resettlement | B |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 11 Feb 2022 |
| Credit Committee Meeting | 15 Jul 2022 |
| Approval | 25 Aug 2022 |
| Last PDS Update | 10 Apr 2023 |
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.
| Title | Document Type | Document Date |
|---|---|---|
| VinFast Electric Mobility Green Loan Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jul 2022 |
| VinFast Electric Mobility Green Loan Project: Report and Recommendation of the President | Reports and Recommendations of the President | Jul 2022 |
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.
| Title | Document Type | Document Date |
|---|---|---|
| VinFast Electric Mobility Green Loan Project: Final Livelihood Restoration Plan | Resettlement Plans | Oct 2023 |
| VinFast Electric Mobility Green Loan Project: Livelihood Restoration Plan Monitoring Report (September 2022-August 2023) | Social Monitoring Reports | Oct 2023 |
| VinFast Electric Mobility Green Loan Project: Environmental and Social Compliance Audit Report | Environment and Social Compliance Audit Reports | Nov 2022 |
| VinFast Electric Mobility Green Loan Project: Draft Resettlement Plan | Resettlement Plans | Nov 2022 |
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.
Fighting Climate Change with New E-Buses
ADB, together with development finance partners and private sector cofinanciers, is spurring the growth of the electric transport industry in Viet Nam through the VinFast Electric Mobility Green Loan Project.ADB Leads $135 Million Climate Financing Package to Support Electric Mobility in Viet Nam
ADB mobilized a $135 million financing package for VinFast Trading and Production Joint Stock Company to support e-mobility in Viet Nam.