Vietnam Power Sector Reform DPO2

Abstract*

The development objective of the Second Power Sector Reform Development Policy Operation Program for Vietnam is to support the Government of Vietnam (GoV) in the design and implementation of a competitive market for electricity generation, restructuring of the power sector and reform of electricity tariffs that will facilitate effective competition, transparency and predictability to encourage generation investment, and to implement programs and incentives... Show More

Development Objective

The objective of the Power Sector Reform DPO programmatic series is to support the Government of Vietnam’s implementation of a market for electricity generation, restructuring of the power sector and reform of electricity tariffs that will facilitate effective competition, transparency and predictability to encourage generation investment, and implement programs and incentives for efficient use of electricity. The programmatic series supports the Country Partnership Strategy competitiveness pillar through EVN reform and improving economic management and business environment in the power sector, and the sustainability pillar through improving efficiency. It also contributes to governance in the power sector.

Key Details

Project Details

Project ID
P124174
Status
Closed
Team Leader
Pedro Antmann
Borrower 2
N/A

Country
Viet Nam
Disclosure Date
November 7, 2011
Approval Date
(as of board presentation)
March 22, 2012
Effective Date
August 9, 2012

Total Project Cost 1
US$ 200.00 million
Implementing Agency
ERAV (MOIT)
Region
East Asia and Pacific
Fiscal Year 3
2012

Commitment Amount
US$ 200.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
July 31, 2013

Last Stage Reached
BANK APPROVED
Parent Projects
P115874
Last Update Date
August 1, 2017

Associated Projects
P144675

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 - Business Enabling Environment86%
- FY17 - Regulation and Competition Policy86%
FY17 - Jobs5%
- FY17 - Job Creation5%

FY17 - Urban and Rural Development

FY17 - Rural Development5%
- FY17 - Rural Infrastructure and service delivery5%
FY17 - Urban Development5%
- FY17 - Urban Infrastructure and Service Delivery5%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	100.00
IDA Credit	100.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	100.00
IDA Commitment	100.00
IBRD + IDA Commitment	200.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	200.00

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$)
Feb 15, 2016	IDA-50820	Int Charges	1,255,728.40
Feb 15, 2024	IDA-50820	Loan Repay	2,808,814.50
Feb 15, 2024	IDA-50820	Int Charges	224,929.84
Feb 15, 2024	IDA-50820	Int Charges	224,929.84
Feb 15, 2024	IDA-50820	Int Charges	839,738.06
Mar 22, 2012	IBRD-81470	Loan Commitment	100,000,000.00
Mar 22, 2012	IDA-50820	Loan Commitment	100,000,000.00
Feb 15, 2023	IDA-50820	Int Charges	248,755.17
Feb 15, 2023	IDA-50820	Int Charges	248,755.17
Feb 15, 2023	IDA-50820	Int Charges	908,917.50
Feb 15, 2023	IDA-50820	Loan Repay	34,931.88
Feb 15, 2023	IBRD-81470	Loan Repay	2,040,000.00
Feb 15, 2023	IBRD-81470	Int Charges	131,838.34
Feb 15, 2023	IBRD-81470	Int Charges	1,835,560.00
Aug 15, 2023	IDA-50820	Int Charges	19,694.20
Aug 15, 2023	IDA-50820	Int Charges	237,184.95
Aug 15, 2023	IDA-50820	Int Charges	237,184.95
Aug 15, 2023	IDA-50820	Int Charges	885,490.50
Aug 15, 2023	IBRD-81470	Int Charges	83,466.40
Aug 15, 2023	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2023	IBRD-81470	Int Charges	2,194,721.50
Aug 15, 2023	IDA-50820	Loan Repay	2,835,907.00
Aug 15, 2024	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2024	IDA-50820	Int Charges	749,186.10
Aug 15, 2024	IDA-50820	Loan Repay	2,796,434.00
Aug 15, 2024	IDA-50820	Int Charges	216,923.60
Aug 15, 2024	IDA-50820	Int Charges	216,923.60
Aug 15, 2024	IBRD-81470	Int Charges	13,878.96
Aug 15, 2024	IBRD-81470	Int Charges	2,411,857.00
Aug 15, 2024	IDA-50820	Loan Repay	52,712.26
Feb 15, 2024	IDA-50820	Loan Repay	6,807.87
Feb 15, 2024	IBRD-81470	Int Charges	22,553.73
Feb 15, 2024	IBRD-81470	Int Charges	2,471,428.00
Feb 15, 2024	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2021	IDA-50820	Loan Repay	3,023,215.00
Feb 15, 2022	IDA-50820	Int Charges	1,042,977.10
Feb 15, 2022	IDA-50820	Loan Repay	58,837.55
Feb 15, 2022	IBRD-81470	Int Charges	380,651.03
Feb 15, 2022	IBRD-81470	Loan Repay	2,040,000.00
Feb 15, 2022	IDA-50820	Loan Repay	2,922,850.50
Feb 15, 2016	IDA-50820	Int Charges	339,162.62
Feb 15, 2016	IDA-50820	Int Charges	339,162.62
Aug 15, 2014	IBRD-81470	Int Charges	402,222.22
Aug 15, 2014	IDA-50820	Int Charges	7,074.35
Aug 15, 2014	IDA-50820	Int Charges	369,838.97
Aug 15, 2014	IDA-50820	Int Charges	369,838.97
Aug 15, 2014	IDA-50820	Int Charges	1,380,732.10
Aug 15, 2015	IDA-50820	Int Charges	1,267,486.90
Aug 15, 2015	IBRD-81470	Int Charges	457,527.78
Aug 15, 2015	IDA-50820	Int Charges	52,538.32
Aug 15, 2015	IDA-50820	Int Charges	52,538.32
Aug 15, 2015	IDA-50820	Int Charges	286,967.12
Aug 15, 2015	IDA-50820	Int Charges	286,967.12
Feb 15, 2014	IDA-50820	Int Charges	9,331.88
Feb 15, 2014	IDA-50820	Int Charges	9,331.88
Feb 15, 2014	IDA-50820	Int Charges	364,149.72
Feb 15, 2014	IDA-50820	Int Charges	364,149.72
Feb 15, 2014	IDA-50820	Int Charges	1,387,187.20
Feb 15, 2014	IBRD-81470	Int Charges	444,666.66
Feb 15, 2015	IDA-50820	Int Charges	12,035.27
Feb 15, 2015	IDA-50820	Int Charges	330,338.78
Feb 15, 2015	IDA-50820	Int Charges	330,338.78
Feb 15, 2015	IDA-50820	Int Charges	1,278,196.50
Feb 15, 2015	IDA-50820	Int Charges	12,035.27
Feb 15, 2015	IBRD-81470	Int Charges	424,222.22
Aug 15, 2013	IBRD-81470	Int Charges	184,648.33
Aug 15, 2013	IBRD-81470	Int Charges	462,555.56
Aug 15, 2013	IDA-50820	Int Charges	411,266.84
Aug 15, 2013	IDA-50820	Int Charges	367,202.53
Aug 15, 2013	IDA-50820	Int Charges	367,202.53
Aug 15, 2013	IDA-50820	Int Charges	1,370,889.50
Aug 15, 2013	IDA-50820	Int Charges	110,160.76
Aug 15, 2013	IDA-50820	Int Charges	110,160.76
Aug 15, 2021	IBRD-81470	Int Charges	400,812.44
Aug 15, 2021	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2021	IDA-50820	Int Charges	298,198.94
Aug 15, 2021	IDA-50820	Int Charges	298,198.94
Aug 15, 2021	IDA-50820	Int Charges	1,113,276.00
Aug 15, 2021	IDA-50820	Int Charges	5,794.69
Aug 15, 2019	IBRD-81470	Int Charges	1,623,706.80
Aug 15, 2019	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2019	IDA-50820	Int Charges	1,159,163.20
Aug 15, 2019	IDA-50820	Int Charges	16,172.30
Aug 15, 2019	IDA-50820	Loan Repay	1,462,694.50
Aug 15, 2019	IDA-50820	Int Charges	0.01
Aug 15, 2019	IDA-50820	Int Charges	0.01
Aug 15, 2019	IDA-50820	Int Charges	310,490.12
Aug 15, 2019	IDA-50820	Int Charges	310,490.12
Feb 15, 2020	IBRD-81470	Loan Repay	2,040,000.00
Feb 15, 2020	IDA-50820	Loan Repay	19,179.25
Feb 15, 2020	IDA-50820	Loan Repay	1,436,193.20
Feb 15, 2020	IDA-50820	Int Charges	303,478.25
Feb 15, 2020	IDA-50820	Int Charges	303,478.25
Feb 15, 2020	IDA-50820	Int Charges	1,132,985.50
Feb 15, 2020	IBRD-81470	Int Charges	1,276,780.10
Feb 15, 2019	IDA-50820	Int Charges	1,173,779.50
Feb 15, 2019	IDA-50820	Loan Repay	61,964.77
Feb 15, 2019	IDA-50820	Loan Repay	1,413,692.40
Feb 15, 2019	IDA-50820	Int Charges	318,775.47
Feb 15, 2019	IDA-50820	Int Charges	318,775.47
Feb 15, 2019	IBRD-81470	Int Charges	1,563,922.20
Feb 15, 2019	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2018	IBRD-81470	Int Charges	1,339,657.40
Aug 15, 2018	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2018	IDA-50820	Int Charges	323,563.10
Aug 15, 2018	IDA-50820	Int Charges	323,563.10
Aug 15, 2018	IDA-50820	Int Charges	1,207,968.80
Aug 15, 2018	IDA-50820	Int Charges	94,176.54
Aug 15, 2018	IDA-50820	Loan Repay	1,472,262.10
Feb 15, 2018	IDA-50820	Loan Repay	1,552,304.40
Feb 15, 2018	IDA-50820	Int Charges	346,975.28
Feb 15, 2018	IDA-50820	Int Charges	346,975.28
Feb 15, 2018	IDA-50820	Int Charges	1,196,077.90
Feb 15, 2018	IDA-50820	Int Charges	57,828.86
Feb 15, 2018	IBRD-81470	Int Charges	1,078,444.50
Feb 15, 2018	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2017	IDA-50820	Int Charges	12,091.15
Aug 15, 2017	IDA-50820	Int Charges	1,215,048.40
Aug 15, 2017	IDA-50820	Loan Repay	1,497,782.90
Aug 15, 2017	IDA-50820	Int Charges	340,405.20
Aug 15, 2017	IDA-50820	Int Charges	340,405.20
Aug 15, 2017	IBRD-81470	Int Charges	995,500.00
Feb 15, 2017	IDA-50820	Int Charges	314,224.12
Feb 15, 2017	IDA-50820	Int Charges	314,224.12
Feb 15, 2017	IBRD-81470	Int Charges	925,111.10
Feb 15, 2017	IDA-50820	Int Charges	1,207,371.10
Feb 15, 2017	IDA-50820	Int Charges	12,285.37
Feb 15, 2017	IDA-50820	Int Charges	12,285.37
Aug 15, 2016	IBRD-81470	Int Charges	722,944.44
Aug 15, 2016	IDA-50820	Int Charges	13,626.97
Aug 15, 2016	IDA-50820	Int Charges	337,553.50
Aug 15, 2016	IDA-50820	Int Charges	337,553.50
Aug 15, 2016	IDA-50820	Int Charges	1,260,199.80
Feb 15, 2016	IBRD-81470	Int Charges	546,888.90
Feb 15, 2016	IDA-50820	Int Charges	870.10
Feb 15, 2016	IDA-50820	Int Charges	870.10
Feb 15, 2022	IDA-50820	Int Charges	282,921.56
Feb 15, 2022	IDA-50820	Int Charges	282,921.56
Aug 15, 2022	IBRD-81470	Int Charges	563,591.80
Aug 15, 2022	IBRD-81470	Loan Repay	2,040,000.00
Aug 15, 2022	IDA-50820	Int Charges	12,501.53
Aug 15, 2022	IDA-50820	Loan Repay	2,810,450.00
Aug 15, 2022	IDA-50820	Int Charges	256,134.16
Aug 15, 2022	IDA-50820	Int Charges	256,134.16
Aug 15, 2022	IDA-50820	Int Charges	956,234.40
Feb 15, 2023	IDA-50820	Loan Repay	2,811,681.50
Aug 15, 2020	IDA-50820	Int Charges	1,083,354.80
Aug 15, 2020	IDA-50820	Loan Repay	35,061.26
Aug 15, 2020	IDA-50820	Loan Repay	1,465,190.60
Aug 15, 2020	IDA-50820	Int Charges	307,210.66
Aug 15, 2020	IDA-50820	Int Charges	307,210.66
Aug 15, 2020	IDA-50820	Int Charges	0.01
Aug 15, 2020	IBRD-81470	Int Charges	1,085,033.50
Aug 15, 2020	IBRD-81470	Loan Repay	2,040,000.00
Feb 15, 2021	IDA-50820	Int Charges	64,966.10
Feb 15, 2021	IDA-50820	Loan Repay	1,533,318.20
Feb 15, 2021	IDA-50820	Int Charges	308,231.84
Feb 15, 2021	IDA-50820	Int Charges	308,231.84
Feb 15, 2021	IDA-50820	Int Charges	1,144,854.10
Feb 15, 2021	IBRD-81470	Int Charges	466,493.16
Feb 15, 2021	IBRD-81470	Loan Repay	2,040,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Satisfactory	2012-06-13
Monitoring and Evaluation	Satisfactory	2012-06-13
Overall Implementation Progress (IP)	Satisfactory	2012-06-13
Program Management	Satisfactory	2012-06-13

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 07-25-2016
Outcomes
Risk to Development Outcome
Bank Performance
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 10-24-2016	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	High	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

Increase in generation availability due to market efficiency incentives improves reserve adequacy and supply security. Indicator: hourly operational reserve.	Value	No hourly operational reserve.		End of third operation in programmatic series:Ten
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

Enhanced transparency in generation contracting and pricing, creating predictability for investors.Indicators: Single Buyer contracts coverage of generation and disclosure of spot market prices.	Value	No contract coverage.No spot market disclosure.		End of third operation in programmatic series:Con
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

The independence and diversity of electricity generators increases, creating conditions that enable development of effective competition and allow the transition to wholesale competition.Indicator:	Value	Highest proportion of generation owned by a single		End of third operation in programmatic series:Hig
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

The System and Market Operator provides efficient and non discriminatory services following VCGM rules, codes and regulations.Indicator: audit by independent consultant firm determines compliance of	Value	No audit (because there is no SMO).		End of third operation in programmatic series:Aud
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

Annual tariff updates approved by MOIT up to 5 percent.Indicator: annual tariff adjustment is approved by March each year.	Value	No annual update.		End of third operation in programmatic series:Ann
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

Phase out of cross subsidy between different tariff categories.Indicators: level of cross subsidy from industrial and commercial categories reduced at least 50 percent; and subsidies targeted to poo	Value	Cross subsidy of $370 million from industrial and		End of third operation in programmatic series:Cro
	Date	December 31, 2007	April 17, 2010	December 31, 2012
	Comment

Enhanced energy efficiency through legal framework, and adequate monitoring and enforcement mechanisms.Inidcator: energy efficiency target established by law, and MoIT and ERAV have capacity to enfo	Value	No Energy Efficiency Law, and no formal demand sid		End of third operation in programmatic series:Ene
	Date	December 31, 2008	April 17, 2010	December 31, 2012
	Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Milestones for Policy Area A, Development of Competitive Market:ERAV completes draft Vietnam Competitive Generation Market (VCGM)Rules and submits to MoIT consultation and approval.MoIT issues Ci	Value	No VCGM Rules draft submitted or Grid Code circula		VCGM Rules draft submitted and Grid Code circular
	Date	April 6, 2010	April 17, 2010	June 30, 2011
	Comment

Milestones for Policy Area B, Power Sector Restructuring:EVN submits recommendations on independent generation companies to PrimeMinister.MoIT issues Circular on methodology and procedures to cal	Value	No recommendation on independent generation compan		Recommendation on independent generation companies
	Date	April 6, 2010	April 17, 2010	June 30, 2011
	Comment

Milestones for Policy Area C, Electricity Tariff Reform:Prime Minister Decision to promulgates Regulations on methodology to calculate and procedures for appraisal of market-based electricity prices	Value	No regulations on methodology for market based pri		Regulation on methodology for market based pricing
	Date	April 6, 2010	April 17, 2010	June 30, 2011
	Comment

Milestones for Policy Area D, Improving Demand Side Energy Efficiency:MoIT submits draft Energy Efficiency Law to Prime Minister.ERAV completes load research and drafts procedures for PCs' periodi	Value	Draft Energy Efficiency Law not submitted.Load re		Draft Energy Efficiency Law submitted by MoIT to P
	Date	April 6, 2010	April 17, 2010	June 30, 2011
	Comment