Ho Chi Minh City Investment Fund for Urban Development Project

Abstract*

The project aims to develop Ho Chi Minh City Investment Fund for Urban (HIFU) Development as a model Local Development Investment Fund LDIF (in terms of internal policy and procedures for financial policy, sub-project appraisal, social and environmental safeguards, and partnership with the private sector) and increase private sector participation in financing municipal infrastructure in Ho Chi Minh City. There are 2 components to the project. Component... Show More

Development Objective

To develop HIFU as a model LDIF (in terms of internal policy and procedures for financial policy, sub-project appraisal, social and environmental safeguards, and partnership with the private sector) and increase private sector participation in financing municipal infrastructure in HCMC

Key Details

Project Details

Project ID
P104848
Status
Closed
Team Leader
Phan Huyen
Borrower 2
N/A

Country
Viet Nam
Disclosure Date
April 5, 2007
Approval Date
(as of board presentation)
June 20, 2007
Effective Date
March 14, 2008

Total Project Cost 1
US$ 80.50 million
Implementing Agency
N/A
Region
East Asia and Pacific
Fiscal Year 3
2007

Commitment Amount
US$ 50.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2012

Last Stage Reached
BANK APPROVED
Last Update Date
January 15, 2013

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 - Private Sector Development

FY17 - Public Private Partnerships10%

FY17 - Urban and Rural Development

FY17 - Urban Development100%
- FY17 - Municipal Finance25%
- FY17 - Urban Infrastructure and Service Delivery50%
- FY17 - Urban Planning25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Borrower/Recipient	30.50
IDA Credit	50.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	50.00
IBRD + IDA Commitment	50.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	80.50

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Dec 15, 2016	IDA-43290	Int Charges	157,409.33
Jun 15, 2017	IDA-43290	Int Charges	155,051.67
Jun 15, 2017	IDA-43290	Int Charges	155,051.67
Jun 15, 2017	IDA-43290	Int Charges	4,567.65
Jun 15, 2017	IDA-43290	Int Charges	4,567.65
Dec 15, 2017	IDA-43290	Int Charges	2,837.83
Dec 15, 2017	IDA-43290	Loan Repay	443,030.44
Dec 15, 2017	IDA-43290	Int Charges	166,136.40
Dec 15, 2014	IDA-43290	Int Charges	170,691.02
Dec 15, 2014	IDA-43290	Int Charges	170,691.02
Jun 15, 2015	IDA-43290	Int Charges	2,696.38
Jun 15, 2015	IDA-43290	Int Charges	2,696.38
Jun 15, 2015	IDA-43290	Int Charges	158,570.12
Jun 15, 2015	IDA-43290	Int Charges	158,570.12
Dec 15, 2015	IDA-43290	Int Charges	3,706.86
Dec 15, 2015	IDA-43290	Int Charges	3,706.86
Dec 15, 2015	IDA-43290	Int Charges	163,759.61
Dec 15, 2015	IDA-43290	Int Charges	163,759.61
Jun 15, 2016	IDA-43290	Int Charges	2,894.37
Jun 15, 2016	IDA-43290	Int Charges	2,894.37
Jun 15, 2016	IDA-43290	Int Charges	162,246.90
Jun 15, 2016	IDA-43290	Int Charges	162,246.90
Dec 15, 2013	IDA-43290	Int Charges	1,295.04
Dec 15, 2013	IDA-43290	Int Charges	1,295.04
Dec 15, 2013	IDA-43290	Int Charges	179,753.83
Dec 15, 2013	IDA-43290	Int Charges	179,753.83
Jun 15, 2014	IDA-43290	Int Charges	929.89
Jun 15, 2014	IDA-43290	Int Charges	929.89
Jun 15, 2014	IDA-43290	Int Charges	180,876.56
Jun 15, 2014	IDA-43290	Int Charges	180,876.56
Dec 15, 2014	IDA-43290	Int Charges	1,006.15
Dec 15, 2014	IDA-43290	Int Charges	1,006.15
Jun 15, 2024	IDA-43290	Int Charges	22,003.04
Jun 15, 2024	IDA-43290	Int Charges	22,003.04
Jun 15, 2024	IDA-43290	Loan Repay	825,630.80
Jun 15, 2024	IDA-43290	Int Charges	126,016.16
Jun 15, 2024	IDA-43290	Int Charges	126,016.16
Jun 20, 2007	IDA-43290	Loan Commitment	50,000,000.00
Dec 15, 2021	IDA-43290	Int Charges	150,951.77
Dec 15, 2021	IDA-43290	Int Charges	150,951.77
Dec 15, 2021	IDA-43290	Int Charges	4,414.97
Dec 15, 2021	IDA-43290	Int Charges	4,414.97
Dec 15, 2021	IDA-43290	Loan Repay	875,082.75
Dec 15, 2022	IDA-43290	Loan Repay	25,324.58
Dec 15, 2022	IDA-43290	Loan Repay	808,571.20
Dec 15, 2022	IDA-43290	Int Charges	97,946.63
Dec 15, 2022	IDA-43290	Int Charges	97,946.63
Dec 15, 2023	IDA-43290	Loan Repay	15,118.49
Dec 15, 2023	IDA-43290	Loan Repay	825,030.80
Dec 15, 2023	IDA-43290	Int Charges	109,933.54
Dec 15, 2023	IDA-43290	Int Charges	109,933.54
Jun 15, 2023	IDA-43290	Int Charges	39,759.99
Jun 15, 2023	IDA-43290	Int Charges	39,759.99
Jun 15, 2023	IDA-43290	Loan Repay	836,289.44
Jun 15, 2023	IDA-43290	Int Charges	134,851.66
Jun 15, 2023	IDA-43290	Int Charges	134,851.66
Dec 15, 2020	IDA-43290	Int Charges	5,698.18
Dec 15, 2020	IDA-43290	Int Charges	5,698.18
Dec 15, 2020	IDA-43290	Loan Repay	450,524.66
Dec 15, 2020	IDA-43290	Int Charges	147,492.84
Dec 15, 2020	IDA-43290	Int Charges	147,492.84
Jun 15, 2021	IDA-43290	Loan Repay	450,897.50
Jun 15, 2021	IDA-43290	Int Charges	152,700.80
Jun 15, 2021	IDA-43290	Int Charges	152,700.80
Jun 15, 2021	IDA-43290	Int Charges	11,326.45
Jun 15, 2021	IDA-43290	Int Charges	11,326.45
Jun 15, 2022	IDA-43290	Loan Repay	823,209.94
Jun 15, 2022	IDA-43290	Int Charges	140,826.73
Jun 15, 2022	IDA-43290	Int Charges	140,826.73
Jun 15, 2022	IDA-43290	Loan Repay	11,318.75
Jun 15, 2019	IDA-43290	Loan Repay	425,322.20
Jun 15, 2019	IDA-43290	Int Charges	157,650.23
Jun 15, 2019	IDA-43290	Int Charges	157,650.23
Jun 15, 2019	IDA-43290	Loan Repay	8,080.43
Dec 15, 2019	IDA-43290	Loan Repay	3,067.78
Dec 15, 2019	IDA-43290	Loan Repay	430,572.94
Dec 15, 2019	IDA-43290	Int Charges	150,418.06
Dec 15, 2019	IDA-43290	Int Charges	150,418.06
Jun 15, 2020	IDA-43290	Int Charges	148,489.62
Jun 15, 2020	IDA-43290	Int Charges	148,489.62
Jun 15, 2020	IDA-43290	Int Charges	5,673.10
Jun 15, 2020	IDA-43290	Int Charges	5,673.10
Jun 15, 2020	IDA-43290	Loan Repay	432,155.66
Dec 15, 2017	IDA-43290	Int Charges	166,136.40
Dec 15, 2017	IDA-43290	Int Charges	2,837.83
Jun 15, 2018	IDA-43290	Int Charges	164,124.98
Jun 15, 2018	IDA-43290	Int Charges	164,124.98
Jun 15, 2018	IDA-43290	Loan Repay	307.30
Dec 15, 2018	IDA-43290	Loan Repay	413,410.34
Dec 15, 2018	IDA-43290	Int Charges	158,775.75
Dec 15, 2018	IDA-43290	Int Charges	158,775.75
Jun 15, 2018	IDA-43290	Loan Repay	441,780.10
Dec 15, 2018	IDA-43290	Loan Repay	18,632.53
Dec 15, 2016	IDA-43290	Int Charges	69.40
Dec 15, 2016	IDA-43290	Int Charges	69.40
Dec 15, 2016	IDA-43290	Int Charges	157,409.33

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Satisfactory	2012-12-26
Progress towards achievement of PDO	Satisfactory	2012-12-26
Procurement	Satisfactory	2012-12-26
Financial Management	Satisfactory	2012-12-26
Monitoring and Evaluation	Satisfactory	2012-12-26
Overall Implementation Progress (IP)	Moderately Satisfactory	2012-12-26
Counterpart Funding	Satisfactory	2012-12-26

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-28-2013
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: 06-30-2014	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Unsatisfactory	N/a
Risk To Development Outcome	Moderate	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Satisfactory	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Total number of HFIC investment (including both debt and equity) per year in municipal infrastructure projects with private sector involvement.	Value	1 (debt)	plus 9 new investments(7 debt and 2 equity)	3 (debt) annual target
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment		- PAD defined the total accumulative target: 11-15 investments- The total accumulative achievement to date: 35 investments (27debts and 8 direct)	Annual target

Total amount of HFIC investment (including both debt and equity) per year in municipal infrastructure projects with private sector involvement.	Value	$4 million (debt)	$15.6 milliondebt: $10.02 million equity: $5.58	$17 million (debt) annual target
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment		- PAD defined the total accumulative target: US$49.5 - 77 million- The total accumulative achievement to date: US$128.5 million($118.51million debts and $9.99 million direct)	Annual target

Improvement in private capital leveraged in municipal infrastructure projects per year (private capital in project / HFIC investment in project).	Value	NA	2.0	1.0x
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment		This target for this indicator was revised since HIFU was reformed to be HFIC and increase the State capital invested through HFIC

Continued compliance with the Financial Covenants Value Full compliance Full compliance Full compliance
Date June 20, 2007 October 31, 2012 December 31, 2012
Comment
Percentage of HFIC projects processed in accordance with the PPA manual guidelines. Value 0% 100% 100%
Date June 20, 2007 October 31, 2012 December 31, 2012
Comment

Percentage of Private Sector Partners of HFIC selected using the PSP manual guidelines, if there is equity investment by HFIC.	Value	0 %	NA (no equity investment under HDP )
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment		PSP manual is implemented in a phased manner, if there is equity investment by HFIC: Process is operational for early evaluations,if potential equity-investment opportunity arose.

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of new investments (including both debt and equity) undertaken by HFIC with the LOC.	Value	0	6 (debt)	2 (debt) annual target
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment		- PAD defined the total accumulative target: 11 investments- The total accumulative achievement to date: 12 investments	Annual target

Amount of new investments (including both debt and equity) undertaken by HFIC with the LOC.	Value	0	$9.83 million (debt)
	Date		October 31, 2012
	Comment		- PAD defined the total accumulative target: US$50- 77 million- The total accumulative achievement to date: US$104.9 million

Projects feasibility studies meet adequate quality standards.	Value	Project owners manage project preparation and qual	100% Compliance	100% Compliance
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment

Level of compliance of projects with Environment and Social Safeguards. Value None 100% Compliance
Date October 31, 2012
Comment

PSP manual is implemented in a phased manner, if there is equity investment by HFIC.	Value	Provisions of the PSP Manual are new to HFIC	Selection process is operational for any early eva	Selection process is operational for any early eva
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment

Continued compliance with the Financial Covenants	Value	Full compliance	Full compliance	Full compliance
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment

Percentage of HFIC projects processed in accordance with the PPA manual guidelines.	Value	0%	100%	100%
	Date	June 20, 2007	October 31, 2012	December 31, 2012
	Comment

Level of compliance of projects with Environment and Social Safeguards.	Value	None	100% Compliance
	Date		October 31, 2012
	Comment