Economic Management Competitiveness Credit 2

Abstract*

The Second Economic Management and Competitiveness Credit (EMCC-2) is part of a programmatic series of 3 Development Policy Operations (DPOs, FY13-16). The series supports Vietnam's economic management reforms to enhance competitiveness for growth and poverty reduction. It is the main channel for policy dialogue between the government, the World Bank and several Development Partners on priority economic management issues highlighted in Vietnam's Socio... Show More

Development Objective

<span style='font-family:arial,helvetica,sans-serif'><span style='font-size:10pt'>The Program Development Objective for the EMCCseries is enhanced competitiveness through strengthened financial sector and fiscal management; strengthened public administration through anti-corruption, SOE and public investment reforms; and reduced administrative burden through improved tax and procurement policies.</span></span>

Key Details

Project Details

Project ID
P146095
Status
Closed
Team Leader
Habib Rab
Borrower 2
State Bank of Vietnam

Country
Viet Nam
Disclosure Date
February 19, 2014
Approval Date
(as of board presentation)
June 5, 2014
Effective Date
October 30, 2014

Total Project Cost 1
US$ 250.00 million
Implementing Agency
State Bank of Vietnam
Region
East Asia and Pacific
Fiscal Year 3
2014

Commitment Amount
US$ 250.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
January 31, 2015

Last Stage Reached
BANK APPROVED
Parent Projects
P122793
Last Update Date
December 1, 2021

Associated Projects
P157405

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 - Economic Policy

FY17 - Fiscal Policy9%
- FY17 - Tax policy9%

FY17 - Finance

FY17 - Financial Stability28%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring28%

FY17 - Public Sector Management

FY17 - Public Administration41%
- FY17 - State-owned Enterprise Reform and Privatization18%
- FY17 - Transparency, Accountability and Good Governance23%
FY17 - Public Finance Management23%
- FY17 - Domestic Revenue Administration9%
- FY17 - Public Expenditure Management14%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	250.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	250.00
IBRD + IDA Commitment	250.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	250.00

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$)
Nov 15, 2021	IDA-54810	Int Charges	1,183,444.50
Nov 15, 2021	IDA-54820	Int Charges	4,676.86
Nov 15, 2021	IDA-54820	Loan Repay	811,347.06
May 15, 2020	IDA-54820	Int Charges	631.98
May 15, 2020	IDA-54820	Loan Repay	392,523.88
May 15, 2020	IDA-54810	Loan Repay	3,236,639.50
May 15, 2020	IDA-54810	Int Charges	723,462.56
May 15, 2020	IDA-54810	Int Charges	723,462.56
May 15, 2020	IDA-54810	Int Charges	1,205,770.90
May 15, 2020	IDA-54810	Int Charges	5,067.72
May 15, 2020	IDA-54820	Int Charges	87,737.99
May 15, 2020	IDA-54820	Int Charges	87,737.99
May 15, 2020	IDA-54820	Int Charges	163,777.60
Nov 15, 2020	IDA-54820	Int Charges	90,100.87
Nov 15, 2020	IDA-54820	Int Charges	90,100.87
Nov 15, 2020	IDA-54820	Int Charges	166,691.62
May 15, 2018	IDA-54820	Int Charges	2,075.90
May 15, 2018	IDA-54820	Int Charges	2,075.90
May 15, 2018	IDA-54810	Int Charges	15,923.02
May 15, 2018	IDA-54810	Int Charges	15,923.02
May 15, 2018	IDA-54810	Int Charges	756,922.50
May 15, 2018	IDA-54810	Int Charges	756,922.50
May 15, 2018	IDA-54810	Int Charges	1,288,075.90
May 15, 2018	IDA-54820	Int Charges	91,651.03
May 15, 2018	IDA-54820	Int Charges	91,651.03
May 15, 2018	IDA-54820	Int Charges	174,956.98
Nov 15, 2018	IDA-54810	Int Charges	36,176.02
Nov 15, 2018	IDA-54810	Int Charges	36,176.02
Nov 15, 2018	IDA-54820	Int Charges	169,254.60
Nov 15, 2018	IDA-54810	Int Charges	711,480.20
Nov 15, 2018	IDA-54810	Int Charges	711,480.20
Nov 15, 2018	IDA-54810	Int Charges	1,246,093.60
Nov 15, 2018	IDA-54820	Int Charges	4,716.32
Nov 15, 2018	IDA-54820	Int Charges	4,716.32
Nov 15, 2018	IDA-54820	Int Charges	85,955.78
Nov 15, 2018	IDA-54820	Int Charges	85,955.78
May 15, 2019	IDA-54820	Int Charges	86,759.14
May 15, 2019	IDA-54820	Int Charges	169,335.45
May 15, 2019	IDA-54820	Int Charges	3,956.27
May 15, 2019	IDA-54820	Int Charges	3,956.27
May 15, 2019	IDA-54820	Int Charges	86,759.14
May 15, 2019	IDA-54810	Int Charges	717,667.00
May 15, 2019	IDA-54810	Int Charges	30,346.30
May 15, 2019	IDA-54810	Int Charges	30,346.30
May 15, 2019	IDA-54810	Int Charges	717,667.00
May 15, 2019	IDA-54810	Int Charges	1,246,688.90
Nov 15, 2019	IDA-54810	Loan Repay	14,473.29
Nov 15, 2019	IDA-54810	Loan Repay	3,258,166.20
Nov 15, 2019	IDA-54810	Int Charges	743,781.75
Nov 15, 2019	IDA-54810	Int Charges	743,781.75
Nov 15, 2019	IDA-54810	Int Charges	1,234,512.10
Nov 15, 2019	IDA-54820	Loan Repay	1,886.90
May 15, 2024	IDA-54820	Int Charges	66,782.16
May 15, 2024	IDA-54820	Int Charges	66,782.16
May 15, 2024	IDA-54820	Int Charges	124,660.08
May 15, 2024	IDA-54820	Int Charges	5,593.16
May 15, 2024	IDA-54810	Int Charges	45,452.80
May 15, 2024	IDA-54810	Loan Repay	6,301,517.50
May 15, 2024	IDA-54810	Int Charges	550,666.75
May 15, 2024	IDA-54810	Int Charges	550,666.75
May 15, 2024	IDA-54810	Int Charges	917,777.80
Jun 5, 2014	IDA-54810	Loan Commitment	223,000,000.00
Jun 5, 2014	IDA-54820	Loan Commitment	27,000,000.00
Nov 15, 2021	IDA-54810	Int Charges	37,534.99
Nov 15, 2021	IDA-54810	Loan Repay	6,690,136.00
May 15, 2022	IDA-54810	Int Charges	1,081,369.60
May 15, 2022	IDA-54820	Int Charges	78,685.93
May 15, 2022	IDA-54820	Int Charges	78,685.93
May 15, 2022	IDA-54810	Loan Repay	129,293.49
May 15, 2022	IDA-54810	Loan Repay	6,207,700.00
May 15, 2022	IDA-54810	Int Charges	648,821.75
May 15, 2022	IDA-54820	Loan Repay	15,940.23
May 15, 2022	IDA-54810	Int Charges	648,821.75
May 15, 2022	IDA-54820	Int Charges	146,880.44
May 15, 2022	IDA-54820	Loan Repay	752,579.44
Nov 15, 2022	IDA-54810	Int Charges	618,106.50
Nov 15, 2022	IDA-54810	Int Charges	618,106.50
Nov 15, 2022	IDA-54810	Int Charges	903,513.75
Nov 15, 2022	IDA-54810	Loan Repay	294,372.80
Nov 15, 2022	IDA-54810	Loan Repay	5,972,144.50
Nov 15, 2022	IDA-54820	Loan Repay	36,274.34
Nov 15, 2022	IDA-54820	Int Charges	124,326.02
Nov 15, 2022	IDA-54820	Loan Repay	723,698.30
Nov 15, 2022	IDA-54820	Int Charges	74,960.94
Nov 15, 2022	IDA-54820	Int Charges	74,960.94
May 15, 2023	IDA-54810	Loan Repay	6,393,612.50
May 15, 2023	IDA-54810	Int Charges	606,666.60
May 15, 2023	IDA-54810	Int Charges	606,666.60
May 15, 2023	IDA-54810	Int Charges	941,871.00
May 15, 2023	IDA-54810	Int Charges	129,232.72
May 15, 2023	IDA-54820	Int Charges	128,812.99
May 15, 2023	IDA-54820	Int Charges	15,917.52
May 15, 2023	IDA-54820	Loan Repay	775,386.10
May 15, 2023	IDA-54820	Int Charges	73,573.55
May 15, 2023	IDA-54820	Int Charges	73,573.55
Nov 15, 2023	IDA-54810	Int Charges	575,612.30
Nov 15, 2023	IDA-54810	Int Charges	575,612.30
Nov 15, 2023	IDA-54820	Loan Repay	765,967.10
Nov 15, 2023	IDA-54820	Int Charges	69,807.42
Nov 15, 2023	IDA-54820	Int Charges	69,807.42
Nov 15, 2023	IDA-54820	Int Charges	124,701.32
Nov 15, 2023	IDA-54810	Int Charges	913,797.06
Nov 15, 2023	IDA-54820	Int Charges	8,420.80
Nov 15, 2023	IDA-54810	Int Charges	68,399.01
Nov 15, 2023	IDA-54810	Loan Repay	6,315,946.00
May 15, 2024	IDA-54820	Loan Repay	764,217.30
Nov 15, 2020	IDA-54810	Int Charges	1,226,235.00
Nov 15, 2020	IDA-54810	Loan Repay	71,398.62
Nov 15, 2020	IDA-54810	Loan Repay	3,309,121.80
Nov 15, 2020	IDA-54810	Int Charges	742,946.20
Nov 15, 2020	IDA-54810	Int Charges	742,946.20
Nov 15, 2020	IDA-54820	Loan Repay	8,901.42
Nov 15, 2020	IDA-54820	Loan Repay	401,071.62
May 15, 2021	IDA-54820	Int Charges	162,727.55
May 15, 2021	IDA-54810	Int Charges	12,168.41
May 15, 2021	IDA-54810	Loan Repay	3,425,472.80
Nov 15, 2019	IDA-54820	Loan Repay	395,002.88
Nov 15, 2019	IDA-54820	Int Charges	90,202.22
Nov 15, 2019	IDA-54820	Int Charges	90,202.22
Nov 15, 2019	IDA-54820	Int Charges	167,738.48
Nov 15, 2017	IDA-54810	Int Charges	30,887.50
Nov 15, 2017	IDA-54810	Int Charges	764,577.20
Nov 15, 2017	IDA-54810	Int Charges	764,577.20
Nov 15, 2017	IDA-54820	Int Charges	173,085.19
Nov 15, 2017	IDA-54810	Int Charges	1,274,295.20
Nov 15, 2017	IDA-54820	Int Charges	4,026.82
Nov 15, 2017	IDA-54820	Int Charges	92,724.19
Nov 15, 2017	IDA-54820	Int Charges	92,724.19
May 15, 2017	IDA-54810	Int Charges	53,589.91
May 15, 2017	IDA-54810	Int Charges	53,589.91
Nov 15, 2016	IDA-54810	Int Charges	1,229,751.60
Nov 15, 2016	IDA-54820	Int Charges	2,636.67
Nov 15, 2016	IDA-54820	Int Charges	89,482.97
Nov 15, 2016	IDA-54820	Int Charges	89,482.97
Nov 15, 2016	IDA-54820	Int Charges	167,034.90
Nov 15, 2016	IDA-54810	Int Charges	20,224.34
Nov 15, 2016	IDA-54810	Int Charges	737,851.00
Nov 15, 2016	IDA-54810	Int Charges	737,851.00
May 15, 2017	IDA-54820	Int Charges	6,986.56
May 15, 2017	IDA-54820	Int Charges	6,986.56
May 15, 2017	IDA-54810	Int Charges	687,946.10
May 15, 2017	IDA-54810	Int Charges	687,946.10
May 15, 2017	IDA-54810	Int Charges	1,205,936.80
May 15, 2017	IDA-54820	Int Charges	82,943.31
May 15, 2017	IDA-54820	Int Charges	82,943.31
May 15, 2017	IDA-54820	Int Charges	163,963.66
Dec 15, 2014	IDA-54810	Loan Disb	210,878,576.00
Dec 15, 2014	IDA-54820	Loan Disb	25,574,324.00
May 15, 2015	IDA-54810	Int Charges	1,010,000.80
May 15, 2015	IDA-54820	Int Charges	77,436.41
May 15, 2015	IDA-54820	Int Charges	77,436.41
May 15, 2015	IDA-54820	Int Charges	137,482.33
May 15, 2015	IDA-54810	Int Charges	638,518.50
May 15, 2015	IDA-54810	Int Charges	638,518.50
Nov 15, 2015	IDA-54820	Int Charges	6,906.48
Nov 15, 2015	IDA-54820	Int Charges	90,830.25
Nov 15, 2015	IDA-54820	Int Charges	90,830.25
Nov 15, 2015	IDA-54820	Int Charges	169,549.83
Nov 15, 2015	IDA-54810	Int Charges	52,975.69
Nov 15, 2015	IDA-54810	Int Charges	748,960.30
Nov 15, 2015	IDA-54810	Int Charges	748,960.30
Nov 15, 2015	IDA-54810	Int Charges	1,248,267.10
May 18, 2016	IDA-54810	Int Charges	722,933.25
May 18, 2016	IDA-54810	Int Charges	722,933.25
May 18, 2016	IDA-54810	Int Charges	1,249,098.20
May 15, 2016	IDA-54810	Int Charges	39,135.28
May 15, 2016	IDA-54810	Int Charges	39,135.28
May 15, 2016	IDA-54820	Int Charges	5,102.10
May 15, 2016	IDA-54820	Int Charges	5,102.10
May 18, 2016	IDA-54820	Int Charges	87,318.57
May 18, 2016	IDA-54820	Int Charges	87,318.57
May 18, 2016	IDA-54820	Int Charges	169,776.70
May 15, 2021	IDA-54810	Int Charges	739,980.00
May 15, 2021	IDA-54810	Int Charges	739,980.00
May 15, 2021	IDA-54810	Int Charges	1,194,862.80
May 15, 2021	IDA-54820	Int Charges	1,516.63
May 15, 2021	IDA-54820	Loan Repay	415,424.62
May 15, 2021	IDA-54820	Int Charges	89,741.13
May 15, 2021	IDA-54820	Int Charges	89,741.13
Nov 15, 2021	IDA-54820	Int Charges	86,113.39
Nov 15, 2021	IDA-54820	Int Charges	86,113.39
Nov 15, 2021	IDA-54820	Int Charges	160,745.06
Nov 15, 2021	IDA-54810	Int Charges	710,066.70
Nov 15, 2021	IDA-54810	Int Charges	710,066.70

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2015-01-28
Overall Implementation Progress (IP)	Moderately Satisfactory	2015-01-28
Program Management	Moderately Satisfactory	2015-01-28
Monitoring and Evaluation	Satisfactory	2015-01-28

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 05-29-2018
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: 06-25-2018	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Modest	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

All SEGs disclose their audited financial statements on their websites Value 4.00 3.00 8.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
MOF discloses the reports on financial supervision and financial supervision result of SEGs/GCs on its website Value 0.00 0.00 30.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Reduced time needed to comply with tax payment requirements Value 537.00 537.00 370.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Number of years the public debt is below the government target of 65 percent of GDP Value 1.00 3.00 4.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Reduction in ratio capital spending to capital budget Value 135.00 134.00 115.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment

Reduced percentage of domestic firms spending over 10 percent of their time dealing with bureaucracy or bureaucratic regulations (PCI survey)	Value	11.26	20.95	10.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Reduced proportion of outstanding loans defined as non-performing Value 8.60 5.40 5.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment

Improved economic and Industry risk score (grouped 1-10, from lowest to highest), measured by Banking Industry Country Risk Assessments (BICRA)	Value	9.00	9.00	8.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

The primary fiscal balance averaged over the last three years has to be less than (4) percent Value 2.70 3.60 4.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Consolidation of Treasury Main Accounts as a result of TSA implementation Value 700.00 5.00 5.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Increased disclosure of information on land management (number of provinces disclosing on websites) Value 6.00 12.00 45.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Enhanced disclosure of public officials’ income and asset declarations (percentage of public officials) Value 0.00 97.00 50.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment
Businesses reporting less negotiation with tax authority as part of doing business (Provincial Competitiveness Index) Value 41.10 39.40 35.00
Date March 19, 2013 January 13, 2015 December 31, 2015
Comment

All SEGs disclose their audited financial statements on their websites	Value	4.00	3.00	8.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

MOF discloses the reports on financial supervision and financial supervision result of SEGs/GCs on its website	Value	0.00	0.00	30.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Reduced time needed to comply with tax payment requirements	Value	537.00	537.00	370.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Number of years the public debt is below the government target of 65 percent of GDP	Value	1.00	3.00	4.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Reduction in ratio capital spending to capital budget	Value	135.00	134.00	115.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Reduced proportion of outstanding loans defined as non-performing	Value	8.60	5.40	5.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

The primary fiscal balance averaged over the last three years has to be less than (4) percent	Value	2.70	3.60	4.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Consolidation of Treasury Main Accounts as a result of TSA implementation	Value	700.00	5.00	5.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Increased disclosure of information on land management (number of provinces disclosing on websites)	Value	6.00	12.00	45.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment

Businesses reporting less negotiation with tax authority as part of doing business (Provincial Competitiveness Index)	Value	41.10	39.40	35.00
	Date	March 19, 2013	January 13, 2015	December 31, 2015
	Comment