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Financial Sector Modernization and Information Management System

Abstract*

The objectives of the Financial Sector Modernization and Information Management System Project is to assist the State Bank of Vietnam (SBV), the Credit Information Center (CIC), and the Deposit Insurance of Vietnam(DIV) to improve the delivery of their main functions in accordance with relevant international standards for the banking sector, through: (a) developing a centralized and integrated system of advanced business processes and a modern information...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The objective of the Project is to assist the State Bank of Vietnam, the Credit Information Center and the Deposit Insurance of Vietnam to improve the delivery of their main functions in accordance with relevant international standards for the banking sector, through (a) developing a centralized and integrated system of advanced business processes and a modern information technology architecture; and (b) strengthening their institutional capacity in carrying out their operations.

Key Details

Project Details

  • P088759

  • Closed

  • Ulle Lohmus

  • The Socialist Republic of Vietnam

  • Viet Nam

  • September 7, 2005

  • (as of board presentation)

    October 30, 2008

  • April 21, 2009

  • US$ 71.83 million

  • The State Bank of Vietnam

  • East Asia and Pacific

  • 2009

  • US$ 60.83 million

  • C

  • Not Applicable

  • December 31, 2017

  • BANK APPROVED

  • December 9, 2020

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 60.00
JAPAN: Ministry of Finance - PHRD Grants 0.83
Borrower/Recipient 11.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 60.00
IBRD + IDA Commitment 60.00
Lending Instrument
Grant Amount 0.83
Total Project Cost** 71.83

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of June 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Feb 25, 2015 IDA-45050 Loan Disb 1,324,720.20
Dec 10, 2014 IDA-45050 Loan Disb 433,663.78
Oct 27, 2014 IDA-45050 Loan Disb 77,104.31
Oct 9, 2014 IDA-45050 Loan Disb 527,872.50
Oct 15, 2014 IDA-45050 Int Charges 1,414.13
Oct 15, 2014 IDA-45050 Int Charges 1,414.13
Oct 15, 2014 IDA-45050 Int Charges 36,352.01
Oct 15, 2014 IDA-45050 Int Charges 36,352.01
Sep 24, 2013 IDA-45050 Loan Disb 188,823.92
Dec 16, 2013 IDA-45050 Loan Disb 20,169.74
Dec 16, 2013 IDA-45050 Loan Disb 1,154,276.50
Aug 13, 2013 IDA-45050 Loan Disb 15,403.83
Oct 15, 2013 IDA-45050 Int Charges 113.34
Oct 15, 2013 IDA-45050 Int Charges 113.34
Oct 15, 2013 IDA-45050 Int Charges 12,081.39
Oct 15, 2013 IDA-45050 Int Charges 12,081.39
Jan 8, 2015 IDA-45050 Loan Disb 778,311.44
Dec 29, 2014 IDA-45050 Loan Disb 998,753.70
Aug 18, 2014 IDA-45050 Loan Disb 3,122,749.80
Jun 9, 2014 IDA-45050 Loan Disb 288,857.90
Jul 17, 2014 IDA-45050 Loan Disb 1,512,994.00
Mar 27, 2014 IDA-45050 Loan Disb 1,709,000.00
Apr 22, 2014 IDA-45050 Loan Disb 74,464.80
Mar 31, 2014 IDA-45050 Loan Disb 768,849.70
Apr 15, 2014 IDA-45050 Int Charges 180.07
Apr 15, 2014 IDA-45050 Int Charges 180.07
Apr 15, 2014 IDA-45050 Int Charges 16,430.94
Apr 15, 2014 IDA-45050 Int Charges 16,430.94
Mar 12, 2014 IDA-45050 Loan Disb 800,000.00
Oct 15, 2015 IDA-45050 Int Charges 87,447.49
Oct 2, 2015 IDA-45050 Loan Disb 1,694,651.00
Apr 27, 2015 IDA-45050 Loan Disb 55,583.20
Jan 13, 2016 IDA-45050 Loan Disb 1,194,919.40
Apr 15, 2015 IDA-45050 Int Charges 2,366.15
Apr 15, 2015 IDA-45050 Int Charges 2,366.15
Apr 15, 2015 IDA-45050 Int Charges 62,998.89
Apr 15, 2015 IDA-45050 Int Charges 62,998.89
Jun 8, 2015 IDA-45050 Loan Disb 786,398.10
Jul 1, 2015 IDA-45050 Loan Disb 2,937,510.80
Sep 1, 2015 IDA-45050 Loan Disb 325,106.53
Jun 24, 2015 IDA-45050 Loan Disb 665,034.40
Feb 13, 2015 IDA-45050 Loan Disb 1,917,033.60
Jan 6, 2015 IDA-45050 Loan Disb 1,088,011.80
Aug 11, 2014 IDA-45050 Loan Disb 1,977,442.50
Jan 27, 2015 IDA-45050 Loan Disb 68,141.71
Aug 15, 2016 IDA-45050 Loan Disb 135,699.98
Dec 12, 2016 IDA-45050 Loan Disb 458,065.22
Jun 24, 2016 IDA-45050 Loan Disb 1,944,567.80
Dec 23, 2016 IDA-45050 Loan Disb 1,518,205.40
Jan 12, 2017 IDA-45050 Loan Disb 1,162,184.50
Nov 14, 2016 IDA-45050 Loan Disb 699,755.10
Oct 15, 2016 IDA-45050 Int Charges 1,730.06
Oct 15, 2016 IDA-45050 Int Charges 1,730.06
Oct 15, 2016 IDA-45050 Int Charges 126,915.05
Oct 15, 2016 IDA-45050 Int Charges 126,915.05
Jun 13, 2016 IDA-45050 Loan Disb 959,885.80
Jun 30, 2016 IDA-45050 Loan Disb 1,889,052.40
Apr 15, 2016 IDA-45050 Int Charges 1,646.59
Apr 15, 2016 IDA-45050 Int Charges 1,646.59
Apr 15, 2016 IDA-45050 Loan Disb 780,932.80
Feb 19, 2016 IDA-45050 Loan Disb 1,516,037.50
Apr 15, 2016 IDA-45050 Int Charges 106,218.37
Apr 15, 2016 IDA-45050 Int Charges 106,218.37
Dec 29, 2015 IDA-45050 Loan Disb 469,874.75
Dec 23, 2015 IDA-45050 Loan Disb 206,614.94
Oct 15, 2015 IDA-45050 Int Charges 660.75
Oct 15, 2015 IDA-45050 Int Charges 660.75
Oct 15, 2015 IDA-45050 Int Charges 87,447.49
Apr 15, 2018 IDA-45050 Int Charges 1,731.30
Apr 15, 2018 IDA-45050 Int Charges 176,128.40
Apr 15, 2018 IDA-45050 Int Charges 176,128.40
Feb 2, 2018 IDA-45050 Loan Disb 1,503,500.60
Sep 20, 2017 IDA-45050 Loan Disb 1,641,509.00
Oct 15, 2017 IDA-45050 Int Charges 940.27
Oct 15, 2017 IDA-45050 Int Charges 940.27
Oct 15, 2017 IDA-45050 Int Charges 157,674.40
Oct 15, 2017 IDA-45050 Int Charges 157,674.40
Nov 6, 2017 IDA-45050 Loan Disb 573,975.10
Apr 15, 2017 IDA-45050 Int Charges 139,012.25
Apr 15, 2017 IDA-45050 Int Charges 139,012.25
Jun 15, 2017 IDA-45050 Loan Disb 1,850,401.00
May 12, 2017 IDA-45050 Loan Disb 340,129.40
Apr 15, 2017 IDA-45050 Int Charges 1,410.15
Apr 15, 2017 IDA-45050 Int Charges 1,410.15
Apr 15, 2019 IDA-45050 Int Charges 2,216.26
Apr 15, 2019 IDA-45050 Int Charges 2,216.26
Apr 15, 2019 IDA-45050 Loan Repay 519,883.72
Oct 15, 2018 IDA-45050 Int Charges 172,698.84
Oct 15, 2018 IDA-45050 Int Charges 172,698.84
Oct 15, 2018 IDA-45050 Int Charges 509.94
Oct 15, 2018 IDA-45050 Int Charges 509.94
Jan 8, 2019 IDA-45050 Loan Cancel 1,131,547.50
Jan 8, 2019 IDA-45050 Loan Disb 5,154,947.50
Nov 23, 2018 IDA-45050 Loan Disb -124,239.18
May 24, 2018 IDA-45050 Loan Disb 787,322.00
Aug 22, 2018 IDA-45050 Loan Disb 377,000.00
Apr 15, 2018 IDA-45050 Int Charges 1,731.30
Oct 15, 2020 IDA-45050 Loan Repay 527,278.80
Oct 15, 2020 IDA-45050 Int Charges 191,026.84
Oct 15, 2020 IDA-45050 Int Charges 191,026.84
Oct 15, 2020 IDA-45050 Loan Repay 460.14
Apr 15, 2020 IDA-45050 Loan Repay 1,881.69
Apr 15, 2020 IDA-45050 Int Charges 187,773.36
Apr 15, 2020 IDA-45050 Int Charges 187,773.36
Apr 15, 2020 IDA-45050 Loan Repay 509,066.30
Oct 15, 2019 IDA-45050 Int Charges 190,261.33
Oct 15, 2019 IDA-45050 Int Charges 190,261.33
Oct 15, 2019 IDA-45050 Int Charges 1,978.31
Oct 15, 2019 IDA-45050 Int Charges 1,978.31
Oct 15, 2019 IDA-45050 Loan Repay 512,488.38
Apr 15, 2019 IDA-45050 Int Charges 184,153.67
Apr 15, 2019 IDA-45050 Int Charges 184,153.67
Apr 15, 2022 IDA-45050 Loan Repay 1,014,277.25
Apr 15, 2022 IDA-45050 Int Charges 178,165.73
Apr 15, 2022 IDA-45050 Int Charges 178,165.73
Apr 15, 2022 IDA-45050 Loan Repay 7,461.69
Oct 15, 2021 IDA-45050 Loan Repay 6,186.07
Oct 15, 2021 IDA-45050 Loan Repay 1,049,561.00
Oct 15, 2021 IDA-45050 Int Charges 188,054.95
Oct 15, 2021 IDA-45050 Int Charges 188,054.95
Apr 15, 2021 IDA-45050 Int Charges 949.53
Apr 15, 2021 IDA-45050 Int Charges 949.53
Apr 15, 2021 IDA-45050 Loan Repay 534,124.80
Apr 15, 2021 IDA-45050 Int Charges 192,284.94
Apr 15, 2021 IDA-45050 Int Charges 192,284.94
Oct 30, 2008 IDA-45050 Loan Commitment 60,000,000.00
Apr 15, 2024 IDA-45050 Loan Repay 964,571.60
Apr 15, 2024 IDA-45050 Int Charges 156,877.38
Apr 15, 2024 IDA-45050 Int Charges 156,877.38
Apr 15, 2024 IDA-45050 Loan Repay 19,756.88
Oct 15, 2023 IDA-45050 Int Charges 14,521.25
Oct 15, 2023 IDA-45050 Int Charges 14,521.25
Oct 15, 2023 IDA-45050 Loan Repay 979,505.44
Oct 15, 2023 IDA-45050 Int Charges 159,781.84
Oct 15, 2023 IDA-45050 Int Charges 159,781.84
Apr 15, 2023 IDA-45050 Loan Repay 974,488.94
Apr 15, 2023 IDA-45050 Int Charges 154,012.58
Apr 15, 2023 IDA-45050 Int Charges 154,012.58
Apr 15, 2023 IDA-45050 Loan Repay 38,418.96
Oct 15, 2022 IDA-45050 Loan Repay 30,243.51
Oct 15, 2022 IDA-45050 Loan Repay 924,271.80
Oct 15, 2022 IDA-45050 Int Charges 162,864.19
Oct 15, 2022 IDA-45050 Int Charges 162,864.19

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Project Management Satisfactory 2017-12-08
Procurement Satisfactory 2017-12-08
Financial Management Satisfactory 2017-12-08
Progress towards achievement of PDO Satisfactory 2017-12-08
Counterpart Funding Satisfactory 2017-12-08
Monitoring and Evaluation Satisfactory 2017-12-08
Overall Implementation Progress (IP) Satisfactory 2017-12-08

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 11-16-2018
OutcomesModerately Satisfactory
Risk to Development Outcome
Bank PerformanceModerately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 04-16-2019PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeN/a
Bank PerformanceModerately SatisfactoryN/a
Borrower PerformanceN/a
Government PerformanceNot RatedN/a
Implementing AgencyN/a
Icr QualityHighN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Strengthened main functions of SBVValue1 (a) Policy function--Lack of sectorization of c1 (a) Statistics accuracy and consistency improved1 (a):--Input data quality significantly improved
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Improved credit information provided by CICValueInformation on credit and borrowers considered lim--Credit information provided by CIC is comprehens--CIC is now in compliance with the OECD PCR pract
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Enhanced risk management of DIVValueCurrent systems and capacity not tested for bank r--Coverage of risk assessment improved in line wit-- IADI Core Principle No. 4 largely compliant and
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Strengthened SBV Accounting FunctionValue--Presentation of SBV’s financial statements witho--Presentation, consolidation and timeliness of SB--Presentation and consolidation of SBV’s financia
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Strengthened SBV Supervision FunctionValueMaterially noncompliant with the BCPs on offsite s--Compliance with BCP principles on offsite survei--New operational policy/manual standardized super
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Strengthened SBV Policy FunctionValueLack of sectorization of bank credit and coverage --Statistics accuracy and consistency improved; Mo--Input data quality significantly improved as dup
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Coverage of risk exposure assessmentValueCoverage of risk exposure assessment is insufficieCoverage of risk exposure assessment improved in lCoverage of risk exposure assessment is in line wi
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Risk assessment reportsValueRisk assessment reports are materially short in coRisk assessment reports cover all material aspectsDIV's risk reports comprehensive and cover all mat
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Functions strengthened and business processes re-engineeredValue--Patchwork of existing regulations and operationa--New/revised regulations and operational policies--A number of new/revised regulations, policies an
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Centralized ICT platform establishedValueDispersed and semi-automated systems led to ineffiAutomated and operational procedures in place to d--The new systems in operation (3 in SBV, 1 in CIC
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Management and staff trained in new practices, processes and productsValueManagement and staff unfamiliar with internationalAll related professional and IT training activitie--SBV conducted 143 training courses with 3733 att
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Medium-term training program implemented by SBVValue--Ad hoc staff training without comprehensive medi--Medium-term training program implemented.--Skills gaps of main functions were analyzed --A
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Research program adopted by SBVValueLimited research and statistics capabilityResearch program on two topics implemented: (i) in--The research on Inflation Forecasting and Determ
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • New/revised regulations and operational policies and procedures implementedValue--Patchwork of existing regulations and operationa--New/revised regulations and operational policies--A number of new/revised regulations, policies an
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • System implementation verified by a 3rd party consultantValueContract implementation for supply and installatioSystem implementation verified by 3rd party consulAll system installation processes were validated a
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment
  • Automated and operational procedures in placeValueDispersed and semi-automated systems led to ineffiAutomated and operational procedures in place to dThe new systems in operation (3 in SBV, 1 in CIC a
    DateNovember 1, 2008December 22, 2014December 31, 2017
    Comment