Vietnam Power Sector Reform DPO3

Abstract*

The objective of the Third Power Sector Reform Development Policy Operation Program Project for Vietnam is to support the Government of Vietnam in the design and implementation of a competitive market for electricity generation; to restructure the power sector and reform of electricity tariff system that will facilitate effective competition, transparency, and predictability; to encourage timely investment in new generation capacity; to enhance power... Show More

Development Objective

The objective of the Vietnam Power Sector Reform DPO program 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 tariff system that will facilitate effective competition, transparency and predictability; to encourage timely investment in new generation capacity; enhance power system efficiency and reliable operation, and implement pricing and programs that promote the efficient use of electricity. Accordingly, the program is designed with the following four policy areas: (i) development of competitive power market;(ii) transition to power sector restructuring suitable for market competition; (iii) electricity tariff reform; and (iv) promotion of demand side efficiency.

Key Details

Project Details

Project ID
P144675
Status
Closed
Team Leader
Pedro Antmann
Borrower 2
Ministry of Industry and Trade

Country
Viet Nam
Disclosure Date
June 30, 2014
Approval Date
(as of board presentation)
June 30, 2014
Effective Date
October 30, 2014

Total Project Cost 1
US$ 200.00 million
Implementing Agency
Electricity Regulatory Authority of Vietnam (ERAV - MOIT)
Region
East Asia and Pacific
Fiscal Year 3
2014

Commitment Amount
US$ 200.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
July 31, 2015

Last Stage Reached
BANK APPROVED
Parent Projects
P124174
Last Update Date
July 16, 2019

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	200.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	200.00
IDA Commitment	N/A
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 June 30, 2025

No data available.

Detailed Financial Activity as of June 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 15, 2016	IBRD-83720	Int Charges	1,102,111.10
Mar 15, 2023	IBRD-83720	Loan Repay	4,540,000.00
Sep 15, 2023	IBRD-83720	Int Charges	71,185.51
Sep 15, 2023	IBRD-83720	Int Charges	5,307,211.50
Sep 15, 2023	IBRD-83720	Loan Repay	4,540,000.00
Mar 15, 2024	IBRD-83720	Int Charges	93,297.56
Mar 15, 2024	IBRD-83720	Int Charges	5,746,541.50
Mar 15, 2024	IBRD-83720	Loan Repay	4,540,000.00
Sep 15, 2022	IBRD-83720	Int Charges	1,791,799.40
Sep 15, 2022	IBRD-83720	Loan Repay	4,540,000.00
Mar 15, 2023	IBRD-83720	Int Charges	217,762.60
Mar 15, 2022	IBRD-83720	Int Charges	864,801.94
Mar 15, 2022	IBRD-83720	Loan Repay	4,540,000.00
Sep 15, 2021	IBRD-83720	Int Charges	930,222.25
Sep 15, 2021	IBRD-83720	Loan Repay	4,540,000.00
Sep 15, 2020	IBRD-83720	Int Charges	1,451,555.50
Mar 15, 2021	IBRD-83720	Int Charges	985,444.44
Mar 15, 2019	IBRD-83720	Int Charges	3,268,055.50
Sep 15, 2019	IBRD-83720	Int Charges	3,455,111.00
Mar 15, 2020	IBRD-83720	Int Charges	2,770,444.50
Sep 15, 2017	IBRD-83720	Int Charges	2,116,000.00
Mar 15, 2018	IBRD-83720	Int Charges	2,121,722.20
Sep 18, 2018	IBRD-83720	Int Charges	3,025,777.80
Mar 15, 2017	IBRD-83720	Int Charges	1,870,333.40
Oct 30, 2014	IBRD-83720	Loan Disb	500,000.00
Oct 30, 2014	IBRD-83720	Fee Charges	500,000.00
Mar 15, 2015	IBRD-83720	Int Charges	1,567.78
Sep 22, 2015	IBRD-83720	Int Charges	2,376.66
Aug 3, 2015	IBRD-83720	Loan Disb	199,500,000.00
Sep 15, 2016	IBRD-83720	Int Charges	1,512,888.90
Mar 15, 2016	IBRD-83720	Int Charges	221,611.23
Mar 15, 2023	IBRD-83720	Int Charges	4,702,342.50
Jun 30, 2014	IBRD-83720	Loan Commitment	200,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2015-08-10
Overall Implementation Progress (IP)	Satisfactory	2015-08-10
Progress towards achievement of PDO	Satisfactory	2015-08-10
Monitoring and Evaluation	Satisfactory	2015-08-10

COMPLETION RATINGS

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

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

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Contracts in place covering 90 percent of demand, for non BOT generation based on pricing methodologies and standard form issued byMOIT	Value	0.00	95.00	95.00
	Date	December 31, 2009	May 30, 2014	July 31, 2015
	Comment

Competitive generation spot market price being publish by system and market operator Value No Yes Yes
Date December 31, 2009 May 30, 2014 July 31, 2014
Comment

The number and diversity of electricty generation companies is increased, with no single company owning more than 45 percent of capacity	Value	75.00	45.00	45.00
	Date	December 30, 2008	May 30, 2014	July 31, 2014
	Comment

Annual tariff adjustments are approved each year Value No Yes Yes
Date December 31, 2008 March 31, 2014 July 31, 2014
Comment

Energy efficiency obligations are established by law and regulator has capacity to enforce and monitor load profiling adn demand response programs for power corporations	Value	No	Yes	Yes
	Date	December 31, 2009	May 30, 2014	July 31, 2014
	Comment

Power system is operated with hourly reserve of electricity generation capacity not less than 10 percent Value 0.00 17.90 17.90
Date December 31, 2013 June 28, 2013 July 31, 2015
Comment

The system and market operator follows dispatch and sytem operation rules to ensure no discrimination among generators, as measuredby and independent audit.	Value	No	Yes	Yes
	Date	December 31, 2008	May 30, 2014	July 31, 2014
	Comment

Cross subsidies from industrial and commercial to residential consumers are reduced by 50 percent and subsidies to residential target low income consumers	Value	No	Yes	Yes
	Date	December 31, 2007	May 30, 2014	July 31, 2014
	Comment