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... Show More

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

Project ID
P088759
Status
Closed
Team Leader
Ulle Lohmus
Borrower 2
The Socialist Republic of Vietnam

Country
Viet Nam
Disclosure Date
September 7, 2005
Approval Date
(as of board presentation)
October 30, 2008
Effective Date
April 21, 2009

Total Project Cost 1
US$ 71.83 million
Implementing Agency
The State Bank of Vietnam
Region
East Asia and Pacific
Fiscal Year 3
2009

Commitment Amount
US$ 60.83 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2017

Last Stage Reached
BANK APPROVED
Last Update Date
December 9, 2020

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Stability101%
- FY17 - Financial Sector Integrity17%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring84%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

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

No data available.

Detailed Financial Activity as of June 30, 2025

Download:

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

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 11-16-2018
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 04-16-2019	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance	Not Rated	N/a
Implementing Agency		N/a
Icr Quality	High	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Strengthened main functions of SBV	Value	1 (a) Policy function--Lack of sectorization of c	1 (a) Statistics accuracy and consistency improved	1 (a):--Input data quality significantly improved
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Improved credit information provided by CIC	Value	Information on credit and borrowers considered lim	--Credit information provided by CIC is comprehens	--CIC is now in compliance with the OECD PCR pract
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Enhanced risk management of DIV	Value	Current systems and capacity not tested for bank r	--Coverage of risk assessment improved in line wit	-- IADI Core Principle No. 4 largely compliant and
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Strengthened SBV Accounting Function	Value	--Presentation of SBV’s financial statements witho	--Presentation, consolidation and timeliness of SB	--Presentation and consolidation of SBV’s financia
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Strengthened SBV Supervision Function	Value	Materially noncompliant with the BCPs on offsite s	--Compliance with BCP principles on offsite survei	--New operational policy/manual standardized super
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Strengthened SBV Policy Function	Value	Lack of sectorization of bank credit and coverage	--Statistics accuracy and consistency improved; Mo	--Input data quality significantly improved as dup
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Coverage of risk exposure assessment	Value	Coverage of risk exposure assessment is insufficie	Coverage of risk exposure assessment improved in l	Coverage of risk exposure assessment is in line wi
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Risk assessment reports	Value	Risk assessment reports are materially short in co	Risk assessment reports cover all material aspects	DIV's risk reports comprehensive and cover all mat
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Functions strengthened and business processes re-engineered	Value	--Patchwork of existing regulations and operationa	--New/revised regulations and operational policies	--A number of new/revised regulations, policies an
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Centralized ICT platform established	Value	Dispersed and semi-automated systems led to ineffi	Automated and operational procedures in place to d	--The new systems in operation (3 in SBV, 1 in CIC
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Management and staff trained in new practices, processes and products	Value	Management and staff unfamiliar with international	All related professional and IT training activitie	--SBV conducted 143 training courses with 3733 att
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Medium-term training program implemented by SBV	Value	--Ad hoc staff training without comprehensive medi	--Medium-term training program implemented.	--Skills gaps of main functions were analyzed --A
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Research program adopted by SBV	Value	Limited research and statistics capability	Research program on two topics implemented: (i) in	--The research on Inflation Forecasting and Determ
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

New/revised regulations and operational policies and procedures implemented	Value	--Patchwork of existing regulations and operationa	--New/revised regulations and operational policies	--A number of new/revised regulations, policies an
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

System implementation verified by a 3rd party consultant	Value	Contract implementation for supply and installatio	System implementation verified by 3rd party consul	All system installation processes were validated a
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment

Automated and operational procedures in place	Value	Dispersed and semi-automated systems led to ineffi	Automated and operational procedures in place to d	The new systems in operation (3 in SBV, 1 in CIC a
	Date	November 1, 2008	December 22, 2014	December 31, 2017
	Comment