| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 150.00 |
Third Economic Management and Competitiveness Credit
Abstract*
The development objective of the Third Economic Management and Competitiveness Development Policy Operation (EMCC3) Project for Vietnam is to support an ambitious structural and economic governance reform program to raise Vietnam’s competitiveness and medium growth potential, thereby laying the foundation for sustained progress in poverty reduction and shared prosperity. This proposed EMCC3 concludes a programmatic series aimed at reinforcing selected... Show More
Development Objective
Project Development Objective (Note: will be disclosed in the MOS)The Third Economic Management and Competitiveness Credit (EMCC3) -the last in this programmatic series- aims to contribute enhanced competitiveness to boost growth and poverty reduction. The EMCC series supports selected priorities in the Governments overall structural refom program set out in its Socioeconomic Development Plan 2011-15 (SEDP).Board Schedule CommentsEMCC-3 -which has been delayed from last FY due to slower than expected progress in program implementation- is expected to be presented to the Board during Q3/FY16. Feasibility of the current timeline will depend on further progress in the implementation of agreed triggers and there is a high risk of slippage. The team will continue to monitor progress closely and update milestones accordingly in close coordination with the CMU>
Key Details
Project Details
P157405
Closed
Sebastian Eckardt
State Bank of Vietnam,Socialist Republic of Vietnam,Ministry of Finance
May 12, 2016
(as of board presentation)
May 12, 2016
September 23, 2016
US$ 150.00 million
State Bank of Vietnam
2016
US$ 150.00 million
N/A
Not Applicable
April 30, 2017
BANK APPROVED
December 1, 2021
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 150.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 150.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 150.00 |
Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Mar 30, 2017 | IBRD-86120 | Fee Charges | 375,000.00 |
| Nov 15, 2017 | IBRD-86120 | Int Charges | 485,181.88 |
| Nov 15, 2017 | IBRD-86120 | Int Charges | 2,369,000.00 |
| Nov 15, 2017 | IBRD-86120 | Int Charges | 199,018.95 |
| May 15, 2024 | IBRD-86120 | Int Charges | 5,634,013.50 |
| May 12, 2016 | IBRD-86120 | Loan Commitment | 150,000,000.00 |
| May 15, 2023 | IBRD-86120 | Int Charges | 5,075,541.50 |
| Nov 15, 2023 | IBRD-86120 | Int Charges | 5,366,666.50 |
| Nov 15, 2022 | IBRD-86120 | Int Charges | 2,767,666.80 |
| Nov 15, 2021 | IBRD-86120 | Int Charges | 1,410,666.60 |
| May 15, 2022 | IBRD-86120 | Int Charges | 1,417,833.40 |
| May 15, 2021 | IBRD-86120 | Int Charges | 1,432,916.60 |
| Nov 15, 2020 | IBRD-86120 | Int Charges | 1,786,333.40 |
| May 15, 2019 | IBRD-86120 | Int Charges | 3,401,291.80 |
| Nov 15, 2019 | IBRD-86120 | Int Charges | 3,250,666.80 |
| May 15, 2020 | IBRD-86120 | Int Charges | 2,707,250.00 |
| May 15, 2018 | IBRD-86120 | Int Charges | 2,466,125.00 |
| Nov 15, 2018 | IBRD-86120 | Int Charges | 3,197,000.00 |
| Apr 5, 2017 | IBRD-86120 | Loan Disb | 149,624,992.00 |
| Mar 30, 2017 | IBRD-86120 | Loan Disb | 375,000.00 |
Ratings
IMPLEMENTATION RATINGS
No data available.
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 05-29-2018 |
|---|---|
| Outcomes | Moderately Satisfactory |
| Risk to Development Outcome | Modest |
| Bank Performance | Moderately Satisfactory |
| Borrower Performance | Moderately Satisfactory |
| Government Performance | Moderately Satisfactory |
| Implementing Agency | Moderately Satisfactory |
INDEPENDENT EVALUATION RATINGS
| INDICATOR | ICR REVIEW: 06-25-2018 | PROJECT PERFORMANCE ASSESSMENT REPORT: |
|---|---|---|
| Outcome Rating | Moderately Satisfactory | N/a |
| Risk To Development Outcome | Modest | N/a |
| Bank Performance | Moderately Satisfactory | N/a |
| Borrower Performance | Moderately Satisfactory | N/a |
| Government Performance | Moderately Satisfactory | N/a |
| Implementing Agency | Satisfactory | N/a |
| Icr Quality | Substantial | N/a |
| M&e Quality | Substantial | N/a |
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of years the public debt is below the government target of 65 percent of GDP Value 1.00 4.00 Date March 19, 2013 December 31, 2015 Comment Reduction in ratio capital spending to capital budget Value 135.00 115.00 Date March 19, 2013 December 31, 2015 Comment Reduced percentage of domestic firms spending over 10 percent of their time dealing with bureaucracy or bureaucratic regulations (PCI survey) Value 11.26 10.00 Date March 19, 2013 December 31, 2015 Comment Reduced proportion of outstanding loans defined as non-performing Value 8.60 5.00 Date March 19, 2013 December 31, 2015 Comment Improved economic and Industry risk score (grouped 1-10, from lowest to highest), measured by Banking Industry Country Risk Assessments (BICRA) Value 9.00 8.00 Date March 19, 2013 December 31, 2015 Comment The primary fiscal balance averaged over the last three years has to be less than (4) percent Value 2.70 3.60 4.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment Consolidation of Treasury Main Accounts as a result of TSA implementation Value 700.00 5.00 5.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment Increased disclosure of information on land management (number of provinces disclosing on websites) Value 6.00 12.00 45.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment Enhanced disclosure of public officials’ income and asset declarations (percentage of public officials) Value 0.00 97.00 50.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment Businesses reporting less negotiation with tax authority as part of doing business (Provincial Competitiveness Index) Value 41.10 39.40 35.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment All SEGs disclose their audited financial statements on their websites Value 4.00 3.00 8.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment MOF discloses the reports on financial supervision and financial supervision result of SEGs/GCs on its website Value 0.00 0.00 30.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment Reduced time needed to comply with tax payment requirements Value 537.00 537.00 370.00 Date March 19, 2013 January 13, 2015 December 31, 2015 Comment