For Official Use Only CLR Review Independent Evaluation Group 1. CAS/CPS Data Country: Vietnam CAS/CPS Year: FY12 CAS/CPS Period: FY12- FY16 CLR Period: FY12 – CY16 Date of this review: May 17, 2017 2. Ratings CLR Rating IEG Rating Development Outcome: Moderately Satisfactory Moderately Satisfactory WBG Performance: Good Good 3. Executive Summary i. Vietnam is a lower middle income country with a GNI per capita income of $ 1,990 in 2015. During the review period, the country continued to experience rapid GDP growth averaging 5.8 percent, compared to 4.3 percent for the East Asia and Pacific region as a whole. The poverty headcount ratio at national poverty lines (which had been 58 percent in 1993) dropped from 17.2 percent in 2012 to 13.5 percent in 2014, with the remaining poverty being largely a rural issue (18.6 percent in 2014 versus 3.8 percent in urban areas), and mostly among ethnic minorities. Vietnam’s ranking on the UNDP Human Development Index also continued to improve – from 128 th in 2011 to 115th in 2015 – compared to neighboring Lao PDR and Cambodia which are currently ranked around 140th place. However, economic inequality as measured by the GINI index is improving quite slowly – from 38.7 in 2012 to 37.6 in 2014. ii. This is the first WBG Country Partnership Strategy (CPS) for Vietnam after it had become a lower middle-income country in 2009. The CPS was well aligned with the government’s objectives and stated development goals. It supported the implementation of the government’s Socio- Economic Development Strategy (SEDS, 2011-20) as this was operationalized in the Socio- Economic Development Plan (2011-15). The SEDS focused on structural reform, environmental sustainability, and the then emerging issues of macro-economic stability, with three core areas: promoting human resources and skills development, improving market institutions, and infrastructure development. iii. At the time of the CPS, Vietnam had undergone a systemic transformation towards a more market oriented economy and with high economic growth and significant poverty reduction. Vietnam had, however, begun to find it more difficult to maintain high growth levels together with macroeconomic stability, and poverty was increasingly being concentrated in ethnic minority communities. The country’s aspirations to avoid the middle income trap and become a successful middle income country would require strengthening of the economy’s competitiveness, and environmental impacts of development needed to be better managed. In line with these concerns, the WBG through the CPS and the Progress Learning Review (PLR) focused on partnering with Vietnam to help the country achieve success as a middle income country with three focus areas: Competitiveness, Sustainability, and Opportunity. These important aspects - addressed in the CPS program - continue to be relevant, as shown in the 2016 Systematic Country Diagnostic (SCD). CLR Reviewed by: Peer Reviewed by: CLR Review Manager/Coordinator Nils Fostvedt Luis Alvaro Sanchez Pablo Fajnzylber Consultant Consultant Manager, IEGEC Igor E. Artemiev Lourdes Pagaran Consultant CLRR Coordinator, IEGEC For Official Use Only CLR Review 2 Independent Evaluation Group iv. During the CPS period, total new approvals were $8.52 billion for 48 operations, with 18 percent of total financing from IBRD. The lending program was a mix of three lending instruments, but overall it was dominated by investment project financing (IPFs), both in volume and number of projects. There were 36 IPFs (for a total of $6.61 billion); 10 Development Policy Financing (DPFs) for $1.46 billion, and two Programs for Results (PforRs) for $450 million. The IPFs had an average size of $184 million, larger than the average for the DPFs. The program was supported by a large number of knowledge activities across sectors and thematic areas. For the same period, IFC made long term investment commitments for 20 projects in the amount of $228 million and extended short-term revolving trade guarantees under the Global Trade Finance Program (GTFP) to three Vietnamese banks for an amount of $818 million. The financial markets accounted for more than half (55 percent) of the long-term investment commitments. IFC also provided 36 advisory (AS) projects (of which 15 were already active in FY12) for a total amount of $60 million. However, overall level of IFC investment commitments was quite modest for a rapidly growing economy, possibly due to delays in the privatization process. v. On balance, IEG rates the program’s development outcome as Moderately Satisfactory. All three focus areas (Competitiveness, Opportunity, and Sustainability) are also rated Moderately Satisfactory. At the level of objectives, six were Mostly Achieved and two were Partially Achieved. For the three identified cross-cutting areas, Governance was addressed significantly through high level dialogue, the 2012 anti-corruption diagnostic, sector reviews and analytical work e.g. in relation to land management. The Bank also provided support for gender, and the CLR states that 75 percent of the Bank projects approved in FY16 included a gender analysis. The third cross- cutting theme – resilience – was captured through specific indicators in the framework. None of these cross-cutting areas were tracked as separate areas, and do not constitute parts of the rated development outcome. vi. Overall, IEG rates the WBG Performance as Good. This wide-ranging program addressed important issues and priorities for Vietnam, and was largely stable throughout the CPS period. The Bank Group has played a strong role in policy dialogue and donor relations at a time when several important development partners have been phasing down their activities in Vietnam. The program reflected a growing lending share for IBRD, with lending complemented with considerable amounts of trust funds and knowledge activities, many of which were supportive of lending operations. The program was, however, fragmented and with little real selectivity. The synergy across WBG grew over the period, but was not well reflected in the results framework which remained largely Bank- centric. The results framework had significant weaknesses, including with some indicators not supporting well their related stated objectives. Vietnam’s performance at exit for Bank’s operations compares well with the overall EAP and Bank-wide average. The Integrity Vice Presidency (INT) received about 109 complaints during the CPS period, often with several complaints concerning the same or similar issues, and investigations have substantiated misconduct in 23 cases. In response to risks identified through the investigations, and as part of the broader program for portfolio management, a systematic effort has been pursued for project-level efforts to strengthen oversight and controls. There has also recently been stronger domestic responsiveness to the findings from INT investigations. vii. The CLR identifies a number of lessons, with which IEG mostly agrees. Most importantly: (i) Achieving selectivity requires strong engagement with the government. (ii) Comprehensive and programmatic engagement enhances the impact of engagement. (iii) Cross-sectoral, holistic approaches should be adopted and implemented more frequently. (iv) Expectations must be carefully calibrated when it comes to structural/transformational reform areas – also noting the importance of understanding the political economy aspects. (v) The WBG can use more effectively its convening power. viii. IEG adds three key lessons from this CPS: First, in Vietnam going forward there is room for greater concentration of resources, including more emphasis on selectivity and with fewer but on average larger lending operations. The selectivity of the knowledge program could probably also be enhanced. Second, it is also important to pay more attention to the design of the results framework, including the balance between objectives and their underpinning outcomes and For Official Use Only CLR Review 3 Independent Evaluation Group indicators, and for program additionality to be clearer, beyond the expected results of individual operations. Third, updating of the results framework at the PLR is an essential element of proactive program management and would need to be used effectively, including the continued monitoring and reporting of results throughout the CPS period. In the case of Vietnam, the results achieved at the PLR were dropped from the updated results framework and no longer monitored which made it difficult to take full account of the achievements of the program. Also, adding new outcome targets at the PLR stage needs to take into account realistic assessment of the time it takes to implement and achieve results, and other exogenous factors that could influence achievement of these outcomes. 4. Strategic Focus Relevance of the WBG Strategy: 1. Congruence with Country Context and Country Program. Vietnam is a lower middle income country with a GNI per capita income of $ 1,990 in 2015. During the review period (FY12- CY16), the country continued to experience rapid GDP growth averaging 5.8 percent, compared to 4.3 percent for the East Asia and Pacific region as a whole. During this period, the poverty numbers continued to improve – the poverty headcount rate at national poverty lines (which had been 58 percent in 1993) dropped from 17.2 percent in 2012 to 13.5 percent in 2014, with the remaining poverty being largely a rural issue (18.6 percent in 2014 versus 3.8 percent in urban areas), and mostly among ethnic minorities, Vietnam’s ranking on the UNDP Human Development Index also continued to improve – from 128th in 2011 to 115th in 2015 – neighboring Lao PDR and Cambodia rank currently around 140th place. However, economic inequality as measured by the GINI index is improving quite slowly – from 38.7 in 2012 to 37.6 in 2014. 2. The WBG’s Country Partnership Strategy (CPS) was very well aligned with the government’s objectives and stated development goals. The CPS supported the implementation of the government’s Socio-Economic Development Strategy (SEDS) 2011-2020 as this was operationalized in the Socio-Economic Development Plan 2011-15 that elaborated the objectives for the first five years of the SEDS. The SEDS focused on structural reform, environmental sustainability, and the then emerging issues of macro-economic stability, with three core areas: Promoting human resources and skills development, improving market institutions, and infrastructure development. The CPS and the PLR focused on partnering with Vietnam to help the country achieve success as a middle income country, as this was the first WBG strategy for the country after it had become a lower middle-income country in 2009, the year it also received its first IBRD loan as a blend country under WBG lending classification. To this end, the program would support investments and policies organized into a strategic framework of three pillars: strengthening Vietnam’s competitiveness, increasing the sustainability of its development, and broadening access to opportunity, and three cross-cutting areas - governance, gender equity, and improved resilience in the face of external economic shocks, natural hazards, and the impact of climate change. 3. The WBG program was also highly relevant in relation to country context. At the time of the CPS Vietnam had experienced rapid socio-economic development for over several decades with a systemic transformation towards a more market oriented economy and with high economic growth and significant poverty reduction. Vietnam had however begun to find it more difficult to maintain high growth levels together with macroeconomic stability, and poverty was increasingly being concentrated in ethnic minority communities. The country’s aspirations to avoid the middle income trap and become a successful middle income country would require strengthening of the economy’s competitiveness, and environmental impacts of development needed to be managed better. These important aspects were all sought addressed in the CPS program. 4. The CPS program was based on the key challenges identified at the time, which continue to be relevant. Thus the 2016 Systematic Country Diagnostic (SCD) observes that Vietnam is a leading case of a country that has achieved rapid growth, poverty reduction, and shared prosperity. Growth in the 1990s was principally a product of agricultural productivity gains. In the first decade of the current millennium, growth continued with the emergence of private sector enterprises, and was also For Official Use Only CLR Review 4 Independent Evaluation Group underpinned by a significant demographic dividend. But to reach its very high potential Vietnam will need to overcome a series of emerging constraints. Economic growth has diminished in recent years, although it is still robust (an estimated six percent in 2016), and the productivity growth has stagnated. The remaining poor by the national poverty line will soon be almost exclusively ethnic minorities. While the SCD describes the basic educational system as a worldwide standout, the upper secondary and tertiary systems are in need of strong improvement. There is unsustainable exploitation of water, land, fish and forest resources, and more than 83 percent of the population is exposed to unhealthy levels of air pollution. 5. Relevance of Design. The program addressed important priorities for the country across a broad spectrum. The comprehensive results framework showed a large number of intended interventions for each objective (lending, AAAs, Bank and IFC), with an extensive number of outcomes and indicators, but it would have been useful if there had been a clearer separation between key and supporting interventions. The CPS document showed that these interventions could reasonably be expected to support the objectives and to help achieve the stated outcomes, but it was less clear whether the large number of interventions (both lending and knowledge services) was needed in that regard, or whether stronger prioritization might have been more effective. The links between program objectives and the outcome indicators were often reasonably well articulated, but were less obvious where indicators were based on specific project results. The program sought to reflect a number of lessons from the previous program, including the need to respond to the emerging vulnerabilities and challenges in the country, attention to decentralization issues and to implementation complemented with greater attention to program and project design, and need for selectivity. To improve operational efficiency, the CPS program would leverage the Bank’s resources through increased use of systemic and “wholesale” approaches – although in practice there were also a significant number of retail operations with so far quite modest scaling up. The program would also intensify efforts to leverage its lending resources through strengthened policy dialogue and AAA, and it would leverage its resources by making more use of opportunities for synergies across the WBG (mentioning infrastructure, agribusiness and the financial sector) and with other development partners. There are examples of such synergies during implementation, but not on a systematic scale. Selectivity 6. The program was based on country diagnostics, was congruent with country development goals and capacity, and reflected WBG comparative advantage and capacity. It was however not particularly selective. The CLR notes the calls in the CPS for selectivity and strong strategic focus, with a number of selectivity criteria including Bank comparative advantage, high likelihood of sustainable impact through replication without official development assistance, and opportunities to leverage systemic and/or institutional change. The specific planned application of these criteria was however not easy to discern from the CPS which presented an ambitious and large-scale framework for WBG engagement. During the period the WBG perceived itself, probably rightly, as a principal partner for the government, which would turn to the Group for support in many or most sectors. There has therefore probably been an inevitable tension between the principles of selectivity and being demand-oriented. The Bank Group in practice seems to have focused on the latter principle, which is probably reasonable when dealing with a quite competent government system, but this resulted in a very large number of interventions (lending and knowledge products). In this regard, over the CPS/PLR period the WBG shifted focus in some sectors – thus going out of primary education – but the Group also moved into new areas of engagement - to early childhood development, science and technology, food safety, and trade. Alignment 7. The CPS was prepared before the formulation of the WBG’s twin goals, but there was in practice good alignment between the twin goals and the CPS programs. The WBG program supported sustainable growth with shared prosperity. Both the CPS and even more the PLR addressed explicitly the remaining areas of poverty among the ethnic minorities – accounting for 15 percent of the population but half of the poor and three out of four of the extreme poor, and with a still large gap in terms of access to quality services. Indicators and milestones explicitly directed at the For Official Use Only CLR Review 5 Independent Evaluation Group poor, near poor and/or ethnic minorities are relatively few in number, but there are some in the PLR results framework under Pillar 3 (“Opportunity”), such as increased access to health services by the near poor, and improved access to basic productive infrastructure in selected (poor) areas. 5. Development Outcome Overview of Achievement by Objective: 8. Following the shared approach, the assessment of the development outcome is based on the updated results framework at the PLR stage. The PLR introduced a number of name-changes to the results framework below the level of the three focus areas. The eight outcome areas were renamed “sub-pillars”, under which there were now a total of 29 “outcomes” each with one or two associated indicators. For the analysis in this CLRR, the “sub-pillars” have been considered as the real objectives and named as such, supported by the various outcome indicators under each objective. The outcome indicators and targets were also adjusted at the PLR stage. In particular, a number of outcome targets that were already achieved were dropped and no longer monitored and reported at the end of the CPS and replaced with new indicators for which the program had only a modest amount of time to achieve and record results. IEG has taken into account those indicators achieved at the PLR stage in arriving at the objective ratings. Focus Area I: Competitiveness 9. Objective 1: Improved Economic Management and Business Environment. This objective, with six outcomes and associated indicators, was supported primarily by the Vietnam Economic Management and Competitiveness Credit (EMCC) DPO – phases I, II and III, and by the Public Financial Management Reform project, together with various knowledge products including the Vietnam 2035 report. The Multi-Donor Trust Fund for Public Financial Management Modernization also supported public financial management reforms such as the reliability of the Treasury and Budget Management Information System (TABMIS). 10. This objective had six outcomes: (i) Maintain public debt below the government target of 65 percent: Achieved. Public debt (per IMF Fiscal Monitor) was 58.3 percent for 2015 and estimated at 62 percent for 2016. The achievement of this outcome was supported by several phases of the EMCC DPO. (ii) For improved public financial management, as measured by at least a third of the recommendations submitted to the government to be adopted in the revised State Budget Law (2016): Achieved. Eight of the 15 recommendations were adopted in the 2015 State Budget Law, in effect from January 2017. In addition, the expanded utilization of the Integrated Treasury and Budget Management Information System (TABMIS) was also achieved at the PLR stage and was no longer tracked and reported at the end of the CPS. (iii) Increased transparency in the banking sector as measured by domestic commercial banks have current financial and balance sheet data on their webpage. Not Achieved. The CLR Reports progress against target of 74 percent (2015), but this was not reported in the latest ISR for the Financial Sector Modernization and Information System project. Additional information from the 2014 FSAP found significant weaknesses in the financial sector including of banks and suggests limited progress in increasing transparency in banks. (iv) Increased access to financial services: Mostly Achieved. This outcome had two parts, both for number of individuals/firms receiving access to financial services: More than 70,000 microfinance clients were reported to have access to financial services against a target of 25,000, while the targets for SME clients was Partially Achieved with about 54,000 clients against a target of 250,000. (The larger numbers from the CLR could not be verified.) Mostly Achieved. (v): Reduced cost of doing business: The target – without any clear estimating method - was direct compliance cost savings to firms through regulatory reforms of $30 million annually. Available WBG reports do not provide substantiated estimates for such savings. However, additional information from the 2017 Doing Business Report notes that: “Vietnam made paying taxes less costly for companies by reducing the corporate income tax rate and made it easier by reducing the number of procedures and documents for filing VAT and social security contributions.” On this basis, the indicator was Partially Achieved, although between 2013 and 2017 Vietnam’s ranking declined from 138 out of 185 to 168 out of 189 economies in the For Official Use Only CLR Review 6 Independent Evaluation Group Doing Business rankings, regarding paying taxes. (vi): Increased transparency of SOEs. This outcome was to be measured by the government’s implementation of Decree 61 with publication of key financial and operational performance data for 100 percent of all State Economic Groups (SEGs) by end 2016. The January 2015 ISR for the second phase of the EMCC programmatic DPO reported that three out of eight SEGs were disclosing their audited financial statements on their websites – no later WBG document with such information is available to IEG, but this may indicate Partially Achieved. 11. Overall, with two indicators Achieved, one Mostly Achieved, two Partially Achieved, and one Not Achieved, and with an earlier indicator also Achieved, Objective 1 was Mostly Achieved. 12. Objective 2: Improved Quality and Efficiency of Infrastructure Services. This objective had three outcome indicators, and was primarily supported by the Power Sector Reform DPO I, II, and III that supported the government in four policy areas: restructuring the power sector and electricity tariff; improving demand side energy efficiency, and developing a competitive power market. In addition, the Renewable Energy Development Project supported an increase in the renewable energy capacity installed, and the System Efficiency Improvement, Equitization and Renewables Project from back in FY02 enhanced the electricity system efficiency in the country. There were also projects for water supply development, urban transport development in Hanoi, and a transport project for the Mekong Delta. 13. Outcome measures: (i) Additional transfer capacity in World Bank project areas. Partially Achieved. The target was to increase additional capacity to 52 percent against a baseline of zero, with different WB projects reporting progress under their operations typically in GW (gigawatts). The formulation of this indicator is ambiguous and this information could not be verified from WBG’s interventions. However, an earlier indicator achieved at the PLR but no longer tracked and reported at the end of the CPS– for the reduced duration of transmission interruptions was achieved. (ii) Reduced volume of water physically lost from water supply system in “selected cities” (but only Ho Chi Minh City is mentioned): Mostly Achieved. The target was formulated as an increase in water not lost. The ICRR for the Vietnam Water Supply Development Project reported about 100,000 m3/day of reduced volume of water physically lost as of June 2013 against a target of 125,000. (iii) Improved efficiency in the road sector in selected areas. Achieved. There were two measurements for this indicator – reduced transport times on the Hanoi 2 nd Ring Road and National Highway 91, respectively. Both targets were achieved. For the first indicator, the transport time was reduced from 28 to 21 minutes (against a target of 22 minutes). For the second indicator, the information was taken from project data since there were no baseline and target in the results matrix at the PLR stage. 14. Overall, with one indicator Achieved, one Mostly Achieved, and one Partially Achieved, Objective 2 was Mostly Achieved. The three indicators for this objective measure only the efficiency dimension, but not the quality aspect with the exception of the first earlier indicator on electricity. 15. Objective 3: Increased Capacity for Innovation and Value Addition. This objective with three indicators was primarily supported by the Fostering Innovation through Research, Science and Technology Project, and also by several IFC activities. 16. This objective had three outcomes with associated indicators: (i) Increase in scientific innovation as measured by increase in the number of international scientific publications made by beneficiary organizations (growth of five percent per annum and to be disaggregated by gender). Mostly Achieved. This is best considered as an output indicator and as such not adequate to measure an increase in innovation. It is also likely that such an indicator will only have meaning over a longer time period. There were also technical issues with this indicator: It was expressed in percent whereas the available material shows increases in number, and some of the numbers are difficult to align with the formulated target. However, the numbers do indicate that the target probably was met, but without any disaggregation by gender. For the latter reason IEG considers the target Mostly Achieved rather than Achieved. An earlier indicator was achieved at the PLR – for higher education students benefiting from improved curriculum, facilities, laboratories and research activities, but this was also an output indicator. (ii) Sustainable increase in value added in farming in selected areas. This outcome was measured by increased use of new practices and area under sustainable farming For Official Use Only CLR Review 7 Independent Evaluation Group practiced for rice and coffee, and by number of farmers reached by IFC investments. Partially Achieved. The first two targets were Not Achieved as the related project (Sustainable Agriculture Transformation project) only became effective in 2015 and the latest ISR reports no progress on increases in farming areas. For the third target the CLR reports 44,864 farmers were reached. Information from the Project Supervision Report (PSR) for the Vietnam Agri-finance project supported by IFC reports that 1.92 million farmers (both direct and indirect beneficiaries were included, hence the unusually high number) were reached, compared to the target of 7,464 farmers. Thus this outcome was Achieved. (iii) Increased knowledge of innovative practices by farmers, as measured by number of farmers trained through the IFC Vietnam Agri-finance project. Overall, this indicator was Partially Achieved, with 2,544 farmers trained against a target of 6,100. 17. Overall, with one indicator Mostly Achieved and two indicators Partially Achieved, Objective 3 was Partially Achieved. Beyond the indicators, it seems likely that the capacity for value addition in farming will have increased in some areas, whereas it is difficult to say much about changes in scientific innovation. 18. With two objectives rated Mostly Achieved and one Partially Achieved, Focus Area I is rated Moderately Satisfactory. Focus Area II: Sustainability 19. Objective 4: Improved Natural Resources Management. This objective was supported, inter alia, by the Mekong Delta Water Management Project, the Land Administration Project, and the Sustainable Agriculture Transformation project. 20. There were four expected outcomes for this objective: (i) Improved management of water resources in selected areas as measured by increased water productivity in pilot areas. Not Achieved. According to the latest ISR the related project (Mekong Delta Water Management project) has progressed well, but it still does not report progress on increased water productivity. The reasons for that lacuna in reporting are not clear. (ii) More efficient land management as measured by time required for land related transactions – transfers. Achieved. The time required for land related transfer transactions was reduced from 44 days in 2007 to 12.2 days in 2015, slightly more than the targeted ten days. In addition, it is noted that the registration of mortgages improved from 11 to 1.3 days and on-demand issuance of land use rights certificates, from 55 to 19.2 days. In view of these substantive achievements the outcome is rated as Achieved. (iii) Number of land use rights certificates distributed that are registered with the name of women land users. Partially Achieved. The IEG ICRR for the Land Administration project reported that 1.5 million certificates were registered in the name of women (individually or jointly) against a target of 2.8 million. (The CLR reports 1.64 million. The target of 2.8 million was the target set at the CPS and at the PLR, although the related project at restructuring (January 2013) had set a new target of 2 million.) (iv) Increase in the use of sustainable farming practices in selected areas as indicated by area of rice farming under such practices as measured by reductions in pesticide and fertilizer use. Not Achieved. The related project (Sustainable Agriculture Transformation project) is in an early stage of implementation. However, the earlier indicator for increase in use of sustainable farming practices in selected areas was Achieved, and taking this into account both achievements at the PLR and end of the CPS, outcome was Partially Achieved. 21. Overall, one outcome indicator was Achieved, two Partially Achieved, and one Not achieved. On this basis, Objective 4 was Partially Achieved. 22. Objective 5: Strengthened Environmental Protection and Management. This objective was supported primarily by the Coastal Cities Environmental Sanitation project, the Ho Chi Minh Environmental Sanitation Project, the Vietnam Urban Upgrading project, the Hanoi Urban Transport Development Project, and some IFC operations. 23. There were five outcomes for this objective: (i) Increased wastewater treated in selected areas. Mostly Achieved. The ICRR for the Coastal Cities Environmental Sanitation project reported that 13,000 m3 of wastewater were treated per day, against a target of 14,200 m3 per day. No information For Official Use Only CLR Review 8 Independent Evaluation Group on possible additional treatments under other projects was found in the related ISRs, so IEG could not add up quantities across the operations. (ii) Improved sanitation in selected areas as measured by people with access to improved sanitation. Partially Achieved. Various projects supported this indicator. By adding up the information from various sources, IEG calculates that about one million people (and 292,000 households) have gained access to improved sanitation, well below the target of 2.5 million. (iii) Reduced GHG (greenhouse gases) emissions in selected areas measured as reductions in annual GHG emissions through IFC facilities providing financing for sustainable energy projects. Achieved. The latest PSR for the Cleaner Production and Energy Efficiency (IFC financed project) shows actual reductions in GHG emissions well above the target of 257,000 tons annually. (iv) Increased use of green building design in selected areas as measured by number of buildings complying with a proposed green building code. Achieved. The target was 641 buildings, whereas 758 buildings were achieved, based on additional information provided by the region. (v) Reduced CO2 emissions in selected areas compared to business as usual scenarios associated with investments. Mostly. Targets were 1.5 million tons for the Bank and 1 million tons for IFC. The Bank target was more than met under two operations – Hanoi Urban Transport Development project and Distribution Efficiency project, and the target under the IFC operations was mostly achieved. 24. Overall, two indicators under Objective 5 were Achieved, two Mostly Achieved, and one Partially Achieved. On this basis, Objective 5 was Mostly Achieved. 25. Objective 6: Enhanced Preparedness for Natural Hazards and Climate Change. The Natural Disaster Risk Management Project supported this objective. 26. This objective has one outcome: Increased use of disaster risk management in selected areas, as measured by (a) number of provinces, and (b) number of communes that have integrated disaster risk management into their socio-economic development plan and river basin management plan. Based on information available to IEG, the targeted number of provinces has been more than Achieved (17, compared to the target of 10), but the number on communes is not available and the partial numbers (27 as of June 2016) seem low. This part of the objective was thus considered to have been Mostly Achieved. In addition, it is noted that an outcome indicator was Achieved at PLR stage: Development of a coherent framework for the prioritization of climate change adaptation action in key sector. However, these are output/process indicators (existence of frameworks and plans rather than use of disaster risk management) that do not sufficiently measure the stated objective. On balance, this Objective was Mostly Achieved. 27. For Focus Area 2 two objectives were Mostly Achieved, and one objective Partially Achieved. On this basis, this Focus Area is rated Moderately Satisfactory. Focus Area III: Opportunity 28. Objective 7: Increased Opportunities for the Poor and Household Resilience to Shocks . This objective was supported, inter alia, by the Second Northern Mountains Poverty Reduction Project, the Central Highlands Poverty Reduction Project, the Mekong Delta Region Urban Upgrading Project, and the Social Assistance System Strengthening Project. 29. The objective was underpinned by four outcomes, some with several dimensions. The CLR reports substantial progress towards targets, but the review of closed and ongoing projects does not provide the necessary verification for all the indicators. The outcomes were: (i) Improved access to basic productive infrastructure in selected (poor) areas as measured by households in targeted areas reporting improvements in accessibility to basic productive infrastructure. The CLR reports that project beneficiaries reported improvements in accessibility to separate basic productive infrastructures above the 2015 target of 60 percent, but IEG’s review of the projects that would have contributed to this indicator did not make it possible to validate most of the stated numbers. This indicator seems to overlap with other outcome measures on access to infrastructure services. Additional information from the World Development Indicators (WDI) show that generally there have been significant improvements between 2011 and 2014/15 in the access in rural areas to improved facilities, thus from 61.6 percent to 69.7 percent for improved sanitation facilities and from 88.6 percent to 96.9 percent for improved water sources. On this basis, the indicator was Partially Achieved. (ii) Number of For Official Use Only CLR Review 9 Independent Evaluation Group beneficiaries that are women for (a) sustainable water and sanitation in project areas (target 51 percent) and access to improved urban infrastructure in low income areas in the Mekong (target 51 percent). Mostly Achieved. In one case 50.14 percent of 279,700 beneficiaries are women and in another case 49 percent of 74,273 with access to improved infrastructure are women. However, such indicators for female beneficiaries of large infrastructure indicators may well be questionable as these would most likely depend on the population composition around the investment areas, and may well be arrived at primarily by counting the beneficiaries in a certain area from general population statistics and then dividing by two (or some similar number). (iii) Regular participation of women and ethnic minorities in planning and decision making processes in project areas in the Northern Mountains. Achieved. The latest ISR for the Second Northern Mountains Poverty reduction project reported that 65 percent of women and ethnic minorities regularly participate in planning and decision making processes, higher than the indicator target of 60 percent. IEG assumes that the formulation refers to percent of eligible women and ethnic minorities that participate rather than that 65 percent of participants are women or ethnic minorities. (iv) Improved systems for targeting social protection. This was measured by whether a pilot beneficiary database has been created in at least four project provinces, using existing data on poor, near-poor and beneficiary households. Achieved. Four provinces were using the national beneficiary database as of November 2016. 30. Overall, of the four indicators to Objective 7 two were rated Achieved, one Mostly Achieved, and one Partially Achieved. On this basis, the objective was Mostly Achieved. 31. Objective 8: Improved Basic Infrastructure and Public Service Delivery. This objective was supported primarily by the Second Northern Mountains Poverty Reduction Project, the School Readiness Promotion Project, and the Central North Region Health Support Project. 32. The objective was underpinned by three outcomes indicators: (i) Travel time to farm production areas in project areas is reduced by at least 50 percent to farmers. The Second Northern Mountains Poverty Reduction Project supports this outcome, which was introduced under the February 2016 additional financing. The latest ISR does not report on any progress regarding this indicator. However, the previous indicator – rural households with access to electricity and all season road in project provinces was Achieved at the PLR stage. Taking the two indicators together this outcome was Partially Achieved. (ii) Increased access to pre-school education. Achieved. The October 2016 ISR for the School Readiness Promotion project reported that 45 provinces were achieving universal preschool for five-year-olds, well above the target of 29 provinces. (iii) Increased access to health services by the near poor by measuring utilization of inpatient and outpatient services by the near poor at the level of district hospitals. Mostly Achieved. The CLR reports that this indicator could not be verified. However, the ICR for the Central North Region Health Support project reported that between 2008 and 2014, access to health services by the near poor increased from 2.39/100 inhabitants to 18/100 inhabitants for inpatients (indicator target 5.6/100) and from 6.4/100 to 11.8/100 for outpatients (indicator target 12.8/100). The target was exceeded for inpatients and not quite met for outpatients. 33. Overall, of the three indicators to Objective 8 one was Achieved, one Mostly Achieved, and one Partially Achieved. On this basis, Objective 8 was Mostly Achieved. 34. Objectives 7 and 8 were both Mostly Achieved. On this basis, Focus Area III was Moderately Satisfactory. Overall Assessment and Rating 35. In sum, six objectives were Mostly Achieved and two Partially Achieved, with all three focus areas rated as Moderately Satisfactory. On balance, the overall development outcome rating was Moderately Satisfactory. Regarding the three identified cross-cutting areas, Governance was addressed significantly through high level dialogue, the 2012 anti-corruption diagnostic, sector reviews and analytical work e.g. in relation to land management. The Bank also provided support for gender, and the CLR states that 75 percent of the Bank projects approved in FY16 included a gender analysis. The third cross-cutting theme – resilience – was captured in the results framework but not the others. For Official Use Only CLR Review 10 Independent Evaluation Group Objectives CLR Rating IEG Rating Focus Area I: Competitiveness Moderately Satisfactory Moderately Satisfactory Objective 1: Economic Management and Business Moderately Satisfactory Mostly Achieved Environment Objective 2. Quality and Efficiency of Infrastructure Moderately Satisfactory Mostly Achieved Services Objective 3. Capacity for Innovation and Value Addition Moderately Unsatisfactory Partially Achieved Focus Area II: Sustainability Moderately Satisfactory Moderately Satisfactory Objective 4. Natural Resources Management (“Green”) Moderately Satisfactory Partially Achieved Objective 5. Environmental Protection and Moderately Satisfactory Mostly Achieved Management (“Clean”) Objective 6. Preparedness for Natural Hazards and Moderately Satisfactory Mostly Achieved Climate Change (“Resilient”) Focus Area III: Opportunity Moderately Satisfactory Moderately Satisfactory Objective 7. Opportunities for the Poor and Resilience Moderately Satisfactory Mostly Achieved to Shocks Objective 8: Improved Basic Infrastructure and Public Moderately Satisfactory Mostly Achieved Service Delivery 6. WBG Performance Lending and Investments 36. The portfolio at the beginning of the CPS period was $7.1 billion for 49 lending operations – one DPF (for power sector reform) and 48 for investment project financing (IPF). The oldest operation was from FY01, and a total of 21 operations (43 percent) had been approved before FY08, which indicates issues at the time in the quick execution of investment operations. Four of the 49 operations had IBRD financing (one exclusively IBRD, the other three were blend IBRD and IDA funding) for a total IBRD component of $1.09 billion (15 percent of the total incoming portfolio by amount). During the CPS period, total new approvals were $8.52 billion for 48 operations, of which only two for about $200 million were unplanned. Eighteen percent of total financing came from IBRD. Of the 48 operations, 36 were IPFs for a total of 6.61 billion (77.6 percent of total lending), 10 were DPFs amounting to $1.46 billion (average size $146 million), and two PforRs for a total of $450 million. The 36 investment operations had an average size of $184 million, larger than the average for the DPOs. The large number of operations suggests a fragmentation of the portfolio. There were also nine investment operations and four DPFs of less than $100 million each, indicating a potential for concentrating on fewer but larger operations. 37. Overall, the Vietnam portfolio at exit shows good results compared to its comparators (EAP and Bank-wide). On the binary scale, 76.1 percent (by amount) and 79.4 percent (by number) of 35 operations completed in the period and validated by IEG were rated Moderately Satisfactory and above. The percentage by number is well above the Bank’s global portfolio and that of the East Asia and Pacific region. The risk to development outcome at 73.5 percent Moderate or lower is also a bit better than the two comparators. In the case of active portfolio, the latest outcome ratings in the ISRs are overwhelmingly positive, with 44 operations or 94 percent rated MS or better with only three (six percent) rated MU or below. These numbers indicate a potential for some downgrades in the ex post reviews. The average projects at risk is 15.1 percent (by number) and 12.2 percent (by amount), moderately below the average for the region. In FY 16, these numbers for the Vietnam portfolio dropped dramatically, presumably in response to the Bank’s proactive portfolio management program. However, the disbursement ratio FY12-16 at 18.8 percent was just a little lower than the average for the region. For Official Use Only CLR Review 11 Independent Evaluation Group 38. IFC has been active in several areas during the CPS period, but its overall level of investment commitments was quite modest for such a rapidly growing economy, possibly caused in part by delays in the privatization process. During the review period, IFC new commitments increased compared to the previous one by 2.7 times from $1.4 billion during the period 2007 – 2011 to $3.8 billion during 2012 – 2016. In particular, IFC made long term investment commitments for 20 projects in the amount of $228 million and extended short-term revolving trade guarantees under the Global Trade Finance Program (GTFP) to three Vietnamese banks for an amount of $818 million. There were also 15 projects with commitments of $223 million made before FY2012 that remained active during the CPS period, as well as four pre-FY2012 GTFP guarantees for $3.5 billion. Of the total long-term investments during the CPS period, financial markets accounted for 55 percent, agribusiness and forestry for 25 percent, tourism and real estate for 14 percent, and power infrastructure for 6 per cent. Fifty-six percent of the new committed investments went to greenfield projects. Of the new long term investment, 43 per cent was equity and 57 per cent was loans. During the CPS period the quality of the loan portfolio deteriorated: the balance of NPLs increased from $8.7 million in FY 2012 to $67 million in FY 2106, due to inability of IFC client banks to collect debts from firms with reduced profitability, the number of which was increasing under more unstable market environments. 39. Based on IEG validations, the overall IFC investment performance in Vietnam has been mixed. During the CPS period, IEG reviewed two XPSRs: one for a growth investment fund in which IFC had invested; and the other for a long-term fund aimed at boosting housing finance. The first project did not meet its economic sustainability and private sector development goals. The second investment has not succeeded in furthering housing finance in Vietnam due in part to IFC’s failure to provide critical advisory services aimed at improving housing finance operations at the client bank. IEG rated the investment fund project Mostly Unsuccessful, and the housing finance project Unsuccessful. The performance has also been mixed for active operations. Of the 13 investment projects active during the CPS period, a total of seven projects were self-rated Mostly Successful or better (only two Successful or better) and six were rated Mostly Unsuccessful or worse (only two were rated Unsuccessful or worse). 40. Vietnam is a MIGA focus country and ranks as its sixth largest in its gross portfolio exposure with $858 million. There are currently three active guarantees to Vietnam. The largest ($500 million) is for the construction of a national highway under the sponsorship of a Japanese company. The other two are for construction of new power plants: a hydro power project for the amount of $240 million, and a build-operate-transfer (BOT) operation to build a gas-fired plant in South Vietnam. Analytic and Advisory Activities and Services 41. The Vietnam program was supported by a large number of knowledge activities across sectors and thematic areas. The CLR provides a number of examples of how analytical work has been used to inform policy dialogue and new lending, and it explains that many analytical pieces have also had large-scale dissemination. For the period FY12-16, the Bank carried out a total of 37 items of economic and sector work (ESW) and 87 items of technical assistance – this is a large program even for a client like Vietnam. The CLR mentions in particular the Vietnam 2035 report prepared together with the government that presented a view of the country’s development challenges to become a successful MIC by 2035. There were also major pieces of ESW on poverty, public expenditure, municipal infrastructure financing, climate change and poverty, anti-corruption, and fiscal decentralization. The Bank’s program was also supplemented by a large number of grants and trust funds, some of which are of significant size (13 are over $10 million each). 42. During the review period, IFC had provided 36 advisory (AS) projects (of which 15 were already active in FY2012) for a total amount of $60 million. Out of 36 AS projects five were terminated and 14 have been closed, nine have been validated by IEG, with eight rated Mostly Successful or better. Most of the active IFC AS projects are reportedly performing well, except one dealing with debt resolution which was put on hold, and there is some underperformance for ongoing projects: catalyzing investment in sustainable energy, agri-finance and good agricultural practices, and credit bureau. Based on the self-ratings, six were rated Mostly Successful or better while two were rated Mostly Unsuccessful or worse. For Official Use Only CLR Review 12 Independent Evaluation Group Results Framework 43. The original CPS results framework had three focus areas: Competitiveness, Sustainability, and Opportunity, with three cross-cutting themes: governance, promote gender equality, and resilience to external economic and climatic shocks. These themes were not included in the results matrix, and there was a lack of specificity concerning concrete modalities of mainstreaming. IEG has also found it difficult to verify some of the indicator results reported in the CLR, and some of the indicators were also poorly formulated. The PLR also introduced a number of modifications at the level of the indicators. Most importantly, ten indicators were declared achieved and replaced with either a higher target (one indicator) or new targets under the same objectives (nine indicators). In addition, one IFC- related indicator was introduced and one indicator was declared achieved without replacement. 1 Six other indicators were also reformulated for other reasons, mostly that the indicators and/or underpinning milestones were broader than the Bank’s engagement. In a few cases these reformulations meant in substance a reduction in the level of ambition. This was most obvious in the case of an indicator for the number of state-owned enterprises to be divested 2011-15, where the original target (450 such enterprises) was replaced by a new indicator that the government would implement a specific decree with publication of key financial and operational performance of all state economic groups. 44. Overall, the CPF objectives supported reasonably well the achievement of country development goals by addressing important constraints, although with limited inclusion of IFC, and the causal chain between WBG interventions and objectives was of variable quality. Thus, the framework documented extensively the supporting WBG projects and knowledge products, but it would have been preferable if there had been a stronger differentiation between key versus secondary interventions. Almost all indicators have baselines, targets and target dates, but several of them were formulated vaguely, some did not correspond well to the objectives they were to support, and some were included without apparent attention to clear definition and/or methods and responsibilities for their monitoring. There was little attention to exogenous factors or unintended effects. Finally, quite a number of indicators were direct project indicators – as many as 18 out of 30 as per IEG’s understanding. This made the results framework unduly narrow and perhaps unnecessarily detailed, and with limited apparent additionality over and beyond the project results. It would have been preferable with stronger attention up front to the overall coherence and additionality of the framework. Partnerships and Development Partner Coordination 45. The Bank has played an active and constructive role in support of partner collaboration over the CPS period, a time when several development partners have been scaling down their activities or exiting the country. The PLR discussed a number of active partnerships during the CPS period, including through a programmatic trust fund, a multi-donor trust fund, and several partnerships with UNICEF and UNDP. Inter alia, the Bank has worked closely with the government on the evolution from consultative groups meetings (with focus on resource mobilization) to the Vietnam Development Forum aimed at deepening policy dialogue around key development issues. The latest IMF staff report on Vietnam explains that the WBG and the IMF have collaborated closely on monitoring the macroeconomic situation, and in the area of fiscal management the institutions have been coordinating the policy dialogue on fiscal consolidation and debt sustainability. The CLR also highlights the collaboration between the six development banks and the government’s ODA National Steering Committee – the six banks being ADB, AFD (France), KEXIM (Korea), KFW (Germany), JICA (Japan) and the Bank. Safeguards and Fiduciary Issues 46. The CLR indicates strong capacity building initiatives on environmental and social safeguards, but does not provide an explicit statement of compliance with the policy requirements. During the review period 29 investment operations were closed and validated by IEG. The main safeguards challenges reported across sectors included limited local capacity, inadequate staffing, poor resource 1 These validations are shown separately in Annex Table 1. For Official Use Only CLR Review 13 Independent Evaluation Group allocation, disagreements concerning Project Affected Populations (PAPs), delayed payments of compensation, interdepartmental rivalries, and encroachment (occupation of land by people who have no recognizable legal right or claim to it). Project review documents in the water and transport sectors reported pending cases of grievances, and an instance where affected households did not receive the tax exemption benefits to which they were entitled. Such examples make it difficult to fully validate the CLR compliance with the environmental and social safeguard policies. 47. During the CPS period the Inspection Panel received one request regarding Vietnam (received on January 12, 2017 – so technically very shortly after the end of the period). This request was sent to the Inspection Panel by two animal-protection organizations in Vietnam, in relation to the World Bank-financed Vietnam Livestock Competitiveness and Food Safety project and its Additional Financing currently under implementation. The requesters claimed that the project had failed to consider animal welfare issues and to consult with animal welfare organizations. After reviewing the evidence gathered and the information received from Bank Management, the Panel issued a notice of nonregistration on January 27, 2017, given the absence of a currently applicable World Bank Operational Policy and Procedure on animal welfare. 48. The Integrity Vice Presidency (INT) received about 109 complaints during the CPS period, often with several complaints concerning the same or similar issues. Investigations have substantiated misconduct in 23 cases, there are still ongoing audits or investigations in six cases, while investigations in four cases did not substantiate the allegations or complaints made. Investigations that substantiated misconduct were concentrated in sectors like Transport, Water, Energy, and Agriculture. Amongst contributing factors were gaps in the oversight of procurement processes, weaknesses in controls, and misconduct by firms working through agents. In response to risks identified through the investigations, and as part of a broader program for portfolio management, a systematic effort has been pursued for project-level efforts to strengthen oversight and controls, introduce early-warning mechanisms, raise awareness amongst firms and contractors, and other capacity building efforts aimed at improving systems and controls. There has also recently been stronger domestic responsiveness to the findings from INT investigations. Ownership and Flexibility 49. Ownership. The CLR reports that during the CPS period, relations with the government were strengthened further, and that the WBG was increasingly present in helping to shape major reforms, as illustrated by the preparation of the first Public Financial and Expenditure Accountability (PEFA) Assessment, while the joint Vietnam 2035 Report represented a significant milestone. However, the mixed progress in the program objectives as reflected in the results framework indicates that ownership may not have been equally present in all parts of the program – one area where progress clearly was much slower than expected in the original CPS was public enterprise reform and privatization where the original indicator was replaced in the PLR with a different and much less ambitious indicator – thus moving from divestiture to transparency. 50. Flexibility. Two IEG Project Performance Assessment Reports (June 2015 on Poverty Reduction Support Credits 6-10, Program 135 Phase 2 Support Credits and Public Investment Reform 1-2, and June 2016 on Public Financial Management Reform) underline the usefulness of flexibility, but that delays in implementation can be a source of inefficiency, and that excessive flexibility regarding the policy content of a programmatic series, so that it is important to strike an appropriate balance between flexibility and rigor. WBG Internal Cooperation 51. The Bank, IFC and MIGA have closely coordinated their respective energy engagements, and the Bank and IFC worked together on enhancing the sustainability of agricultural value chains. However, it would have been preferable if there were upfront coordination with the Bank and IFC (and MIGA) plans and intentions and reflected in the results framework, and more consistent tracking in the framework of actual IFC results. It was expected that IFC’s portfolio for both investment and advisory services would continue to increase throughout the CPS period. But the expected increase did not materialize., IFC’s commitments during the CPS period dropped by about 21 percent between FY12 For Official Use Only CLR Review 14 Independent Evaluation Group and FY16 (not by about 50 percent FY12-15 as mentioned in the CLR), after it picked up in FY16. The number of long term finance investments also declined from eight to five projects, while the value of IFC’s advisory services portfolio increased by about 50 percent. Risk Identification and Mitigation 52. The CPS discussed a number of risks, including slowdown in the global economy, heightened macro-economic instability, and implementation risks including possible slow implementation of investment operations. For the latter, the Bank had been working closely with the government to improve the ODA management system, strengthen the legal framework for procurement, and to address project-level issues with the government on a systematic basis. The subsequent PLR noted that the risks to the program had evolved, that strengthened macro-economic management had reduced the risks associated with slowdowns in the global economy, but that three other risks remained: Policies that could contribute to macro-economic imbalances, fiduciary risks from still weak procurement capacity at various levels, and low financial management capacity, and possible slow- downs in the implementation of reforms. The latter risk was considered moderate on average, but with considerable variation across policy areas. Overall, the risks were appropriately identified but did not impact significantly the WBG programs, as also noted in the CLR. The CPS, PLR and CLR documents all indicate a proactive Bank approach to the management of risks. The CLR has confirmed that fiduciary systems have been strengthened, including with the help of a Bank strategic plan for the last two years of the period, but that vulnerabilities and risks remain. Overall Assessment and Rating 53. Overall, IEG rates the WBG Performance as Good. 54. The program reflected a growing lending share for IBRD, and complemented IDA and IBRD lending with considerable amounts of trust funds and knowledge activities, many of which were supportive of lending operations. Knowledge activities mostly provided good support for the preparation and/or implementation of lending operations. The Bank Group has played a strong role in policy dialogue and donor relations, although several important development partners have been phasing down their activities in Vietnam due to its relatively new status as a lower middle income country. However, the program was fragmented with limited selectivity. The synergy across WBG grew over the period, and was quite considerable in some sectors, but was not well reflected in the results framework which remained largely Bank-centric. The results framework had significant weaknesses, including with some indicators not supporting well their related stated objectives. 55. Vietnam’s performance at exit for Bank’s operations compares well with the overall EAP and Bank-wide average. Lending operations have normally proceeded well, with average ratings on completion above the average for the region, but the ISR ratings on ongoing operations in the aggregate probably overstate somewhat likely ratings of development outcomes on completion. In FY16, the number of projects at risk in the Vietnam portfolio dropped dramatically, presumably in response to the Bank’s proactive portfolio management program at that time. The Integrity Vice Presidency (INT) received about 109 complaints during the CPS period, often with several complaints concerning the same or similar issues, and investigations have substantiated misconduct in 23 cases. In response to risks identified through the investigations, and as part of the broader program for portfolio management, a systematic effort has been pursued for project-level efforts to strengthen oversight and controls. There has also recently been stronger domestic responsiveness to the findings from INT investigations. 7. Assessment of CLR Completion Report 56. The CLR gives a clear and unbiased view of the CPS program and its implementation. There are however too many “key lessons” with little sense of their prioritization, and it would have been useful to include a more in-depth synthetic discussion of the possible implications for the WBG program going forward of more dependence on IBRD funding. The various changes to the program in the 2015 PLR could also have been assessed better. The assessment of the program and its results were well justified, but IEG found it problematic to validate several of the numbers used for the results. For Official Use Only CLR Review 15 Independent Evaluation Group The CLR is rightly critical of a number of the aspects of the results framework, but an overall forward- looking synthesis of these observations was lacking. 8. Findings and Lessons 57. The CLR identifies a number of “key lessons” – actually far too many, and not well prioritized. IEG can agree with these to some extent – most importantly: (a) Achieving selectivity requires strong engagement with the government (the rest of this lesson seems to move in several directions). (b) Comprehensive and programmatic engagement enhances the impact of engagement – IEG would add that such engagements need to find the appropriate balance between flexibility and rigor. (c) Cross- sectoral, holistic approaches should be adopted and implemented more frequently – IEG would add that while this seems to make sense it is not clear how the lesson arises from the CLR discussion. (d) Expectations must be carefully calibrated when it comes to structural/transformational reform areas – also noting the importance of understanding the political economy aspects. (e) The WBG can use more effectively its convening power – given the WBG’s strong engagement in the country IEG is not aware of any particular areas where this could have been the case over the CPS period. 58. IEG adds the following three lessons:  First, in Vietnam going forward there is room for greater concentration of resources, including more emphasis on selectivity and with fewer but on average larger lending operations. The selectivity of the knowledge program could probably also be enhanced.  Second, it is also important to pay more attention to the design of the results framework, including the balance between objectives and their underpinning indicators, and for program additionality to be more clear, beyond the expected results of individual operations.  Third, updating of the results framework at the PLR is an essential element of proactive program management and would need to be used effectively, including the continued monitoring and reporting of results throughout the CPS period. In the case of Vietnam, the results achieved at the PLR were dropped from the updated results framework and no longer monitored which made it difficult to take full account of the achievements of the program. Also, adding new outcome targets at the PLR stage needs to take into account realistic assessment of the time it takes to implement and achieve results, and other exogenous factors that could influence achievement of these outcomes. CLR Review Annexes 17 Independent Evaluation Group Annex Table 1: Summary of Achievements of CPS Objectives - Vietnam Annex Table 2: Vietnam Planned and Actual Lending, FY12-FY16 Annex Table 3: Analytical and Advisory Work for Vietnam, FY12-FY16 Annex Table 4: Vietnam Grants and Trust Funds Active in FY12-16 Annex Table 5: IEG Project Ratings for Vietnam, FY12-16 Annex Table 6: IEG Project Ratings for Vietnam and Comparators, FY12-16 Annex Table 7: Portfolio Status for Vietnam and Comparators, FY12-16 Annex Table 8: Disbursement Ratio for Vietnam, FY12-16 Annex Table 9: Net Disbursement and Charges for Vietnam, FY12-16 Annex Table 10: Total Net Disbursements of Official Development Assistance and Official Aid for Vietnam Annex Table 11: Economic and Social Indicators for Vietnam, 2012 – 2015 Annex Table 12: List of IFC Investments in Vietnam Annex Table 13: List of IFC Advisory Services in Vietnam Annex Table 14: IFC net commitment activity in Vietnam, FY12 - FY16 Annex Table 15: List of MIGA Activities in Vietnam, FY12 - FY16 Annexes CLR Review 19 Independent Evaluation Group Annex Table 1: Summary of Achievements of CPS Objectives - Vietnam CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness Objective 1: Economic Management and Business Environment Outcome (i): Maintain The Vietnam Economic Management and Sources : CLR, ISR, ICR, sound Competitiveness Credit (EMCC) DPO – phases I ICRR, IMF macroeconomic P122793 (FY13), II P146095 (FY14) and III framework: P143405 (FY17) – supported this outcome, through policy reforms that aimed at Indicator: Maintain public strengthening the financial sector, fiscal debt below the government management, the public administration and target of 65% of GDP public investment reforms. The ISR: MS for the 2nd phase reported that, as of January 2015, Target: 65% of GDP (2016) public debt has been below the government target of 65% of GDP for 3 years. The Public Financial Management Reform project (P075399, FY03) also supported this outcome. IEG: MS reports it strengthened accountability mechanisms and the management of public debt with, among others, the formalization of public debt management objectives and guidelines. Various AAAs, such as the VN2035 report also supported WBG engagement with Vietnam on macroeconomic reforms. Major The CLR reports that, by the end of 2015, public Outcome debt was estimated at 61.3% of GDP. Data from Measures the 2016 IMF Fiscal Monitor reports that public debt was 58.3% for 2015 and estimated at 62% for 2016. Achieved. Outcome (ii): Improved The Public Financial Management Reform At the PLR stage, the indicator Public Project (P075399, FY03) supported this was replaced because the Financial management: outcome. IEG: MS reports that the project piloted target was achieved. The the implementation of the Medium-Term Fiscal original outcome indicator was: Indicator: Revised State Framework (MTFF) and Medium-Term Provinces using the integrated Budget Law (2002) to align Expenditure Framework (METF) and that Treasury and Budget Vietnam PFM Practices result/performance-based budget management Management Information more closely with was expected to be institutionalized in the System (TABMIS): international good practices revised State Budget Law. The Multi-Donor Trust Baseline: 30 (2010) Fund for Public Financial Management Update:63 (2014) Baseline: 15 top Modernization (P110525, FY09, IEG: MU) also Target: 63 (2015). recommendations supported public financial management reforms As reported in IEG: MS for the submitted to the such as the reliability of the Treasury and Budget Public Financial Management government Management Information System (TABMIS). In Reform Project (P075399, April 2014, a Proposals Drawing on International FY03, closed FY14), the Target: At least a third of Experience was prepared by the WBG for the TABMIS was developed and is the recommendations are revision of the 2002 State Budget Law. fully operational, since October adopted in the revised State Finally, the prior actions for the third phase for 2012, at 1500 treasury offices Budget Law (2016) the EMCC (P143405, FY17) includes further and financial agencies in all 63 advances in setting up a single treasury account. provinces and 37 spending The CLR reports that 8 out of 15 ministries. Achieved. recommendations were adopted in the 2015 Annexes CLR Review 20 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness State Budget law, in effect in January 2017 (see the Vietnam Law Magazine and WBG release that describe the list of changes). Achieved. Outcome (iii): Increased The Financial Sector Modernization and transparency in the Information Management System project banking Sector (P088759, FY09) supported this indicator. However, the latest ISR: MS does not report on Indicator: Domestic the share of domestic commercial banks that commercial banks have have current financial and balance sheet data on current financial and their webpage. The information reported in the balance sheet data on their CLR (that more than 71% of the Banks currently webpage have financial statements on their webpages) could not be verified. Not Achieved. Baseline: 49% (2011) Target: 74% (2015) Outcome (iv): Increased The following indicator was not access to reported in the CLR although financial services the PLR indicates that this indicator would remain and that Indicator: Number of the new target as 50% for individuals/firms receiving 2016: Individuals and firms access to financial services: listed in a public credit registry with information on their a) Microfinance clients: a) Micro-finance clients: the Third Rural Finance borrowing history from the past Baseline: 0 (2012) project (P100916, FY07) supported this outcome. 5 years Target: 25,000 IEG: S reports that 70,341 microfinance clients Baseline: 29.8 % (2011) gained access to financial services. Update: 41.8% (Dec. 2013) Target: 40% (2015)” b) SME clients: b) SME clients: IEG: S for project P100916 Information from the Financial Baseline: 0 (2012) reports that 65,333 clients gained access to SME Sector Modernization and Target: 250,000 (2016) loans, through the project’s Rural Development Information Management Fund. IFC Microfinance Project (599245) System (P088759) does not contributed to this indicator. The last PSR for report on this data – it is not Q2FY17 indicates that 54,434 SME clients were clear which WBG operation reported to have access to financial services. supported this indicator. The CLR claim that IFC reached 616,381 SME External data from the 2014 clients in this project could not be verified. Doing Business Report indicates that 39.1% of the Mostly Achieved. population was listed in a public credit registry. According to the 2016 Doing Business Report, coverage increased to 41.5% for 2016. Achieved. Outcome (v): Reduced The CLR reports that IFC advisory services There is a typo for the IFC Cost of Doing Business supported capital market development; the legal Credit Bureau Phase II project; framework for the establishment of a credit the project number should be Indicator: Direct bureau and a collateral registry increase and the 593928 instead of 599902 (as Compliance Cost Savings strengthening of minority investor protection. reported in the CLR). to firms through regulatory The Vietnam Business Tax Simplification There is no Collateral Registry reforms (564330) project had an objective to reduce the Phase II project in Vietnam. Annexes CLR Review 21 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness cost of tax compliance for SMEs but it did not Baseline: 0 (2010) work on “reducing the corporate income tax” Target: $30 million annually (PCR: MU; IEG: MU). (2016) The Vietnam EMCC programmatic DPO also supported this indicator. The January 2015 ISR: MS for the 2nd phase indicates that the program improved business enabling environment through the simplification of administrative procedures and that the share of “businesses reporting less negotiation with tax authority” decreased from 41.10% in 2013 to 39.40% in 2015. In this respect, Doing Business 2017 reports that “Vietnam made paying taxes easier and less costly by streamlining the administrative process of complying with tax obligations”. Partially Achieved. Outcome (vi): Increased The Vietnam EMCC programmatic DPO As reported in a WBG report Transparency of SOEs supported this outcome. The January 2015 ISR: on Vietnam’s economic MS for the 2nd phase reported that, as of developments (2014): “Decree Indicator: GOV has January 2015, 3 SEG (out of a total of 8, as the 61 requires more detailed implemented Decree 61 target) were disclosing their audited financial reporting by SOEs to their with publication of key statements on their websites. No other WBG’s parent ministries or financial and operational document permit to verify that all SEGs publish departments twice a year (four performance for State information regarding their financial performance times for larger SOEs), and Economic Groups (SEGs): on either government or proprietary website – the MOF has to report to the CLR reports evidence from a report on the National Assembly every year Baseline: 0% of SEGs implementation of Decree 61 (a trigger for the 2Nd on the overall operational and (2014) phase of the DPL) provided by the Ministry of financial performance of all Target: 100% of SEGs (end Finance to the Bank that IEG could not consult. SOEs”. 2016) Partially Achieved. Objective 2: Quality and Efficiency of Infrastructure Services Outcome (i): Improved The Power Sector Reform DPO I (P115874, At the PLR stage, the original Efficiency in electricity in FY10), II (P124174, FY12) and III (P144675, outcome target: Duration of selected areas FY14) supported the government in restructuring interruptions in 500kV the power sector and electricity tariff; improving transmission system per 100 Indicator: Additional transfer demand side energy efficiency and developing a circuit km was replaced capacity in WB project competitive power market. According to IEG: MS because the target was already areas (percentage) the objective to enhance power system efficiency achieved. was rated substantial and “installed and Baseline: 15.43 minutes (2010) Baseline: 0 operating power generation capacity increased Update: 25% improvement Target: 52% (2016) from about 20.0 GW in 2010 to 34.1 GW in (2013) (11.5 minutes) 2014”. Target: 13% improvement Likewise, among various projects, the (2015)” Renewable Energy Development Project The Second Transmission and (P103238, FY09) supported an increase in the Distribution Project (P084871, renewable energy capacity installed (by about FY06) supported this indicator. 223MW, as of December 2016, ISR:MS); the As reported in IEG: MS, for System Efficiency Improvement, Equitization and 500 kV transmission system, Renewables Project (P066396, FY02) enhanced the frequency of interruptions the electricity system efficiency in the country (number of faults/100km) was Annexes CLR Review 22 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness (PDO objective rated substantial, IEG: MU), and reduced from 0.33 to 0.148, as the Second Transmission and Distribution of June 2014, , exceeding both Project (P084871, FY06) supported the the original (0.315) and revised development of an efficient electricity distribution (0.300) targets and the and transmission system (IEG: MS). The last average duration of ISR: S for the Transmission Efficiency Project interruptions reduced from (TEP) (P131558, FY15) does not report, as of 15.75 minutes to 8.98 minutes, January 2017, progress on additional transfer as of June 2014, exceeding capacity in project areas. both the original (14.98) and The numbers on the expansion of energy revised (13.50) targets. capacity (generally reported in GW) cannot be Achieved. reconciled with the target (reported in %) for this indicator. As reported in Column 2: The Partially Achieved. last ISR: S for the Transmission Efficiency Project (TEP) (P131558, FY15) does not report, as of January 2017, progress on additional transfer capacity in project areas. Outcome (ii): Improved The Vietnam Water Supply Development Project Efficiency (P073763, FY05) supported this indicator. in the water sector in According to IEG: MU, 101,645 m3/day of selected areas reduced volume of water physically lost from the systems was achieved in Ho Chi Minh City as of Indicator: Reduced volume June 2013. The review of the latest ISRs of the of water physically lost from WB lending reported as operations that water supply system in contributed to this indicator does not permit to selected cities - (i) in HCMC verify that the estimated reduction of volume of water lost from water supply system in HCMC is Baseline: 27,300 m3/day 163,000m3/day in 2016 (as the CLR reported). (2011) Mostly achieved. Target: 125,000 m3/day (2015) Outcome (iii): Improved Efficiency in the Road Sector in selected areas Indicator: Reduced transport times on targeted transport corridors: There was no baseline and target for the second indicator; (i) Hanoi 2nd Ring Road (i) The Hanoi Urban Transport Development the ones reported in the Baseline: 28 min (2011) project (P083581, FY08), supported this second column are from the Target: 22 min (2015) indicator. According to the latest ISR: MS, Project P083588. The first transport time on the Hanoi 2nd ring road indicator had baseline and (between Cau Giay to Dyke Road at Nhat) was target. reduced from 28 to 21 minutes, as of November 2016. Achieved. Annexes CLR Review 23 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness (ii) National Highway 91 (ii) The Mekong Delta Transport project (MDTP) (P083588, FY07), supported this indicator. Baseline: TBD by June According to Management: MS, the average 2012 travel time by truck on the NH91 decreased from Target: TBD by June 2012 15 to 10 minutes between January 2013 and June 2016. Achieved. Objective 3: Capacity for Innovation and Value Addition Outcome (i): Increase in The CLR reports that, under the Fostering The PPAR for the Second scientific Innovation through Research, Science and Higher Education Program Innovation Technology Project- FIRST (P117394, F13) the reports that “according to number of publications on International Peer- project data, TRIGs directly Indicator: Increase in the Reviewed Journals increased to 20, against a supported 1,162 national and number of international target of 5. The latest ISR: MU does not report 645 international peer- scientific publications made progress on this indicator, as of December 2016. reviewed articles, well by beneficiary organizations Through the Second Higher Education Project exceeding the established (disaggregated by gender) (P079665, FY07) 508 articles were published by target”. (Annual % increase) academic staff in the previous academic year (2011) in international refereed academic Note that the original indicator Baseline: 0 journals in Teaching and Research Innovation was replaced at PLR because Target: 5 Grant recipient universities (before the project, they were reported to have 207 articles were published in 2006, IEG: S) but been achieved. The original the ICR indicates that “all of these publications outcome was: “Higher cannot be solely attributed to the grants”. Education students benefitting Finally, IEG: MS for the Higher Education DPO from improved curriculum, Programmatic Series (I: P104694, FY09; II: facilities, laboratories and P116353, FY11 and III: P116354, FY14) reports research activities through that, from 2008 to 2011, the annual number of TRIG grants (number) articles in international academic journals Baseline: 200,000 (2010) increased from 1,090/year to 1,563/year (against Update: 500000 (2013) a target of 1,625/year) and that from 2009 to Target: 250,000 (2013)”. 2014, the number of articles increased by nearly IEG: S for the Second Higher 100%, implying around 1,900 articles/year in Education Project (P079665, 2014. However, the ICRR does not report data FY07) and IEG: MS for the disaggregated by gender. Mostly achieved. Higher Education DPO Programmatic Series (I: P104694, FY09; II: P116353, FY11 and III: P116354, FY14) do not report such data. Not Verified. Outcome (ii): Sustainable The agriculture technologies supported by the The original outcome was: increase in value added in Agriculture Competitiveness project (P108885, “Farmers in targeted areas farming in selected areas: FY09) led to an increase of 17% in crop yields adopting good agricultural and of 22% in the value of sales of farmers who practices (number) Indicator: Increased use of adopted the technologies, compared to a control Baseline: 0 (2011) new practices and area of group (IEG: MS). Update: 33,287 (2014) rice farming under Target: 23,500 (2015): sustainable farming Management: MS for the practices (hectares): Agriculture Competitiveness project (P108885, FY09) reports that 24,843 clients Annexes CLR Review 24 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 1: Competitiveness (a)Rice Production a) and (b) The Sustainable Agriculture have adopted improved Baseline: 0 (2014) Transformation (P145055, FY15) supports this agriculture technology Target: 10,000 indicator. The project only became effective in promoted by the project, as of (b)Coffee Production 2015, consequently, the latest ISR: MS reports June 2014. Mostly Achieved. Baseline: 0 (2014) no progress in relation to the increase in the area Target: 5000 of rice farming and coffee production under sustainable farming practices. Not achieved. (c) Farmers reached by IFC (c) The CLR reports that, a total of 44,864 investments farmers have been reached by IFC investments, Baseline: 0 (2012) against a target of 7,464 farmers. Under the the Target 7464 (2015) Vietnam Agri-finance project (600060), 1.92 million farmers (direct and indirect) were reached (PSR Q2FY17). Neither the target of 7, 464 farmers reached not the actual 44,864 farmers reached are reported in the PSR. Achieved. Partially Achieved. Outcome (iii): Increased The CLR reports that a total of 1,882 farmers The Agri Value Chain project knowledge of innovative were trained by 2016. The Vietnam Agri-finance and Rural SMEs was practices by farmers project (600060) reported to have trained 2,544 implemented in Cambodia, not farmers. Partially Achieved. in Vietnam. Indicator: Farmers trained through IFC Vietnam The original outcome was: Agrifinance project “Additional jobs created as a result of investments Baseline: 0 supported (IFC) Target 6,100 (2016) Baseline: 32,142 (2011) Update: 110,000 to 169,000 (2013) Target: 100,000 (2015)” Please refer to the inputs prepared on IFC by the consultant and that I have incorporated in the other Annex 1: c) The Vietnam Agri-finance project (600060) set a target of 95,000 of farmers reached (direct and indirect) and 1.92 million farmers were reached (PSR Q2FY17). Achieved. Annexes CLR Review 25 Independent Evaluation Group CPS FY12-FY16 –Focus Actual Results IEG Comments Area 2: Sustainability Objective 4: Natural resources management Outcome (i): Improved The CLR reports that data for indicator could not . management of water be verified. Among other operations, the CLR resources in selected reports that the Mekong Delta Water areas: Management (P113949, FY11) project supports six pilots in five provinces to improve water Indicator: Increased water productivity and strengthen provincial water productivity in pilot areas resource management and investment plans – according to the latest ISR: S (October 2016) Baseline: TBD at start of the project has progressed but it still does not MDWM project report progress on increased water productivity. Target: 10% improvement Not Achieved. (2016) Outcome (ii): More efficient The WBG supported the implementation of a land management Land Governance Assessment Framework (see report) that supported the revision of the Land Indicator: Time required for Law in 2013 (see working paper). IEG: MS for land related transactions – the Land Administration Project (P096418, transfer FY07) reports that the project supported access Baseline: 44 days (2007) to land information services and the Target: 10 days (2015) development of an improved land administration Major information system in participating provinces. Outcome The time required for land transfer transaction Measures was reduced from 44 days in 2007 to 12.2 days in 2015; mortgages registration improved from 11 to 1.3 days and on demand issuance of land use rights certificates improved from 55 to 19.2 days. Achieved. Outcome (iii): Number of The Land Administration Project (P096418, The target is 2.8 million as per Land Use Rights FY07) supported this indicator; IEG: MS reports the CPS and the PLR although Certificates distributed that the number of Land Use Rights Certificates the related project, at being registered with (LURCs) registered in the name of women land restructuring (January 2013) name of women land users (individually or jointly) was 1.5 million in set a new target at 2 million. users mid-2015 (against 1.64 million reported in the CLR). Partially Achieved. Baseline: 0 (2007) Target: 2.8 million (2016) Outcome (iv): Increase in The Sustainable Agriculture Transformation The original outcome was: use of project (P145055, FY15) supports this indicator. “Targeted smallholder sustainable farming As reported in the CLR, the project is in early plantation area certifiable practices in selected phase of implementation, consequently the according to international areas. latest ISR: S reports no progress on the standards for sustainable indicator related to the increase of area of rice Forestry Indicator: Area of rice farming under sustainable farming practices as Baseline: 0% (2010) farming under sustainable measured by reductions in pesticide and Update: 70% (2013) farming practices as fertilizer use. Not Achieved. Target: 50% (2013): measured by reductions in Management: S for the Forest pesticide and fertilizer use Sector Development Project (hectares) (P066051, FY05, closed FY15) Baseline: 0 (2014) reports that 73% of the Target: 10,000 (2016) targeted smallholder plantation Annexes CLR Review 26 Independent Evaluation Group CPS FY12-FY16 –Focus Actual Results IEG Comments Area 2: Sustainability area in each project province is certifiable according to international standards for sustainable Forestry. Achieved. Objective 5: Environmental Protection and Management Outcome (i): Increased As reported in IEG: MS for the Coastal Cities wastewater treated in Environmental Sanitation Project (P082295, selected areas: FY07) 13,000 m3 per day of wastewater were treated in the GEF-financed wastewater plant in Indicator: Additional Quy Nhon. IEG reviewed the latest ISRs of the wastewater treated (m3/day) projects reported in the CLR to have contributed Baseline: 0 (2011) to this indicator; none of them provided Target: 14,200 (2015) additional information to verify the 46,000 m3 of treated wastewater reported in the CLR. Mostly Achieved. Outcome (ii): Improved Various projects supported this indicator. IEG: sanitation in selected MS for the Ho Chi Minh Environmental areas Sanitation Project (P052037, FY01, closed FY13) reports that the number of households Indicator: People with whose wastewater is collected and disposed of access to improved safely increased from 0 in 2007 to 265,800 in sanitation (number) 2012. The latest ISR: MS for the 2nd operation Baseline: 680,000 (2011) does not report progress (as of November 2016) Target: 2,500,000 (2015) on the indicator related to the number of new household sewer connections constructed. The latest ISR: S of the Medium Cities Development Project (P116398, FY12), reports that the number of people with access to improved sanitation has risen from 0 to 74,170 as at November 2016. IEG: MS for the Vietnam Urban Upgrading project (P070197, FY05) does not report – as reported in the CLR- that the project contributed to providing access to sanitation to 1.9 million. However, IEG: MS for the Coastal Cities Environmental Sanitation Project (P082295, FY07) reports that 821,056 people gained access to improved sanitation. Finally, the latest ISR: MS for the Mekong Delta Region Urban Upgrading Project (P113904, FY12) reports that 26,467 households have been connected to improved septic tanks/sewer lines and the latest ISR: MS for the Urban Water Supply and Waster Project (P119077, FY11) reports that, as of June 2016, 112,131 people have improved sanitation due to the project. Adding up the information from these various sources, about 1 million (1,007,357) people and 292,267 households have gained access to improved sanitation. Partially Achieved. Annexes CLR Review 27 Independent Evaluation Group CPS FY12-FY16 –Focus Actual Results IEG Comments Area 2: Sustainability Outcome (iii): Reduced The CLR reports that through advisory services, The PLR reported “New IFC GHG IFC helped reduce 262,482 metric tons of indicators” under the column Emissions in selected emissions between 2011 and 2015 and that the “Current Indicator/ areas Cleaner Production and Energy Efficiency Milestone”. project (561504) contributed to this indicator. Indicator: Reduction in According to the PSRQ2 FY17: PU, GHG annual GHG emissions emissions were expected to be reduced by through facilitating financing 430,915 metric tons /year and actual results for sustainable energy indicate a reduction of 807,372 metric tons/year. projects (IFC) Neither the target of 257,000 annually, nor the Baseline: 0 achieved 262,482 metric tons are in the PSR. Target: 257,000 annually Achieved. (2016) Outcome (iv): Increased The Green Buildings Regulation project use of green building (599100) supported increase in the number of design in selected areas. buildings that comply with green building regulations, reaching 758 buildings as per the Indicator: Number of PSR Q22017: S. Achieved. buildings complying with the proposed green building code Baseline: 0 Target 641 (2016) Outcome (v): Reduced CO2 (a) The Hanoi urban Transport Development The unit for the “15.43” of CO2 emissions in selected Project (P083581, FY08) supported this emissions of energy savings areas indicator. The latest ISR: MS reports that 1.62 was missing in the latest ISR: million tons of GHG have been saved, as of MS for the Clean Production Indicator: CO2 emissions April 2015. The latest ISR: S for the Distribution and Energy Efficiency project reductions compared to Efficiency Project (P125996, FY13) reports no (P116846, FY12). The unit was business as usual scenario progress, as of December 2015, for avoided retrieved from the project’s associated with investments GHG. However, the latest ISR: MS for the Clean PAD. Baseline: 0 Production and Energy Efficiency project Target: (a) 1.5 million tons (P116846, FY12) reports energy savings of (WB) 15.43 thousand of toe of CO2 emissions as of (b) 1 million tons (IFC) December 2016. Achieved. (2015) (b) Three IFC projects (599615, FY13; 599100, FY13 and 561504, FY09) supported this indicator. Data obtained from the last PSRs (Q2 FY2017) for each project indicates that those permitted the following GHG emissions savings: 28,122 metric tons per year (project 599615); 124,434 metric tons per year (project 599100), and 807,372 and metric tons per year (project 561504). The total of GHG emissions savings, between these three operations, amounts 959,928 metric tons. Mostly Achieved. Mostly Achieved. Annexes CLR Review 28 Independent Evaluation Group CPS FY12-FY16 –Focus Actual Results IEG Comments Area 2: Sustainability Objective 6: Preparedness for Natural Hazards and Climate Change Outcome (i): Increased use (i) As reported in IEG: MS for the Natural The original indicator was: of disaster risk Disaster Risk Management Project (P073361, “Coherent framework for management in selected FY06), 17 provinces integrated disaster risk prioritization of climate change areas management (DRM) in their Socio-Economic adaptation action in key Development Plans (SEDPs) and three sectors is available Indicator: (i) Number of hydraulic river basin models were developed. Baseline: No (2011) provinces and (ii) communes Achieved. Update: Yes (2014) integrating disaster risk (ii) The Managing Natural Hazards Project Target: Yes (2015)”. management into their (P118783, FY13) supports the development of The Climate Change DPO Socio- Economic provincial river basin plans that integrate DRM series (projects P122667, Development Plan and River factors but the latest ISR: MS does not report FY12; P127201, FY13 and Basin Management Plan progress (as of June 2016) on this indicator; P131775, FY14), supported however, it reports that 27 communes integrated the strengthening of DRM Baseline : 0 provinces, 0 DRM in their SEDPs. Partially Achieved. through the 2013 Law on communes (2014) Finally, the Climate Change DPO series Natural Disaster Prevention Target : 10 provinces,100 (projects P122667, FY12; P127201, FY13 and and Control, approved in June communes (2016)2016 P131775, FY14), supported the strengthening of 2013; the development of an DRM through the 2013 Law on Natural Disaster adaptation prioritization Prevention and Control, approved in June 2013 framework and the (IEG: S). development of a national platform for all stakeholders to Mostly Achieved. coordination Climate Change Adaptation Actions (see IEG: S). In addition, an adaptation Prioritization Framework in the context of the Socio-Economic Development Plan (SEDP) is operational at the Ministry of Planning and Investment (MPI) and implementation had initiated. Achieved. Annexes CLR Review 29 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 3: Opportunity Objective 7: Opportunities for the Poor and Household Resilience to Shocks Outcome (i): Improved The CLR reports that project beneficiaries This indicator overlaps with access to basic reported improvements in accessibility to other indicators (outcome ii/b). productive infrastructure distinct basic productive infrastructure: road, in selected (poor) areas 96%; water supply, 81% and irrigation, 75%. IEG is unable to verify these numbers from the Indicator: Households in list of operations supporting this outcome. Data targeted areas reporting from the World Development Indicators improvements in suggests improved access to water supply and accessibility to basic electricity (for urban and rural areas). productive infrastructure Partially Achieved (%) Baseline: n/a (2011) Target: 60 % (2015) Outcome (ii): Number of beneficiaries that are women (a) Sustainable water and (a) The latest ISR: MS (December 2016) for the sanitation in project areas Central Highlands Poverty Reduction Project Baseline: 0 (2013) (P128072, FY14) which supports water Target: 51% (2016) systems, reports that, as of September 2016, 50.14% of the project’s 279,700 beneficiaries Major are women– the other reviewed projects do not Outcome present gender specific indicators and do not Measures permit to verify that, as reported in the CLR, 51% of the 802,252 total beneficiaries were women. Achieved. (b) Access to improved (b) The latest ISR: MS for the Mekong Delta urban infrastructure in low Region Urban Upgrading Project (P113904, income areas in the FY12) reports that, as of October 2016, 74,273 Mekong persons had access to improved infrastructure Baseline: 0 (2012) services in the project low income areas, of Target: 51% (2016) which 36,394 (49%) were women. Mostly achieved. Mostly Achieved. Outcome (iii): Regular The latest ISR: S for the Second Northern participation of women Mountains Poverty Reduction Project and ethnic minorities in (P113493, FY13) reported that 65% of women planning and decision and ethnic minorities regularly participate in making processes in planning and decision making processes, as of project areas in the December 2016. Achieved. Northern Mountains Baseline: 0 (2010) Target: 60% (2016) Outcome (iv): Improved The Social Assistance System Strengthening systems for targeting Project (P123960, FY14), supported this social protection indicator. According to the latest ISR: S, as of November 2016, four provinces were using the Annexes CLR Review 30 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 3: Opportunity Indictor: A pilot beneficiary national beneficiary database of poor/near-poor database is created in households and social protection beneficiaries project provinces using and a management information system. In existing data on poor, near- addition, the CLR reports that thanks to strong poor and beneficiary policy dialogue and analytical work, the households. Government integrated WBG inputs into the amended Social Insurance Law in 2014. Baseline: 0 Achieved. Target: 4 provinces (2016) Objective 8: Improved basic infrastructure and public service delivery Outcome (i): Travel time to The Second Northern Mountains Poverty The original outcome was: farm production areas in Reduction Project (P113493, FY13) supports “Rural households with access project areas is reduced this indicator. The indicator related to travel time to: for at least 50% of was introduced under the additional financing (i) electricity in project farmers (P148733, FY16) in February 2016; the latest provinces ISR: S (December 2016) does not report Baseline: 87.3 % (2011) progress for this indicator. However, the Update: 98% (Sep 2013) previous indicator – rural households with Target: 90 % (2014) access to electricity and all season road in project provinces was Achieved at the PLR (ii) an all-season road: stage. Partially Achieved. Baseline: 78 % (2010) Update: 82% (2012) Target: 81% (2014)”. (i) Management: S for the Second Rural Energy Project (P074688, FY05, closed FY14) reports that 98% of rural households got access to electricity in project provinces, as of June 2014. Achieved. (ii) The Second Northern Mountains Poverty Reduction Project (P113493, FY13) supports this indicator. The Project Paper reports, as of December 2014, that 96% of rural households has access to an all-season road. Achieved. Outcome (ii): Increased The School Readiness Promotion project access to (P117393, FY14) contributed to this indicator. preschool education According to the latest ISR: S (October 2016), 45 provinces were achieving universal Indicator: Number of preschool for 5-year-old children, as of May provinces achieving 2016 -, a province is recognized as meeting universal preschool for 5- universal early childhood education standards year-old when that province meets all such standards for children children, teachers and physical facilities. Baseline: 10 Achieved. Target: 2929 Annexes CLR Review 31 Independent Evaluation Group CPS FY12-FY16 – Focus Actual Results IEG Comments Area 3: Opportunity Outcome (iii): Increased The CLR reports that this indicator could not be The original outcome was: access to verified. However, Management: S for the “Grade 5 students achieving health services by the Central North Region Health Support Project independent learner status near poor (P095275, FY10) reports that, between 2008 (SEQAP provinces) and 2014, access to health services by the near (disaggregated by gender) Indicator: Utilization of poor has increased from 2.39/100 habitants to inpatient and outpatient 18/100 habitants for inpatients (target 5.6/100) (i) in Vietnamese services by the near poor at and from 6.14/100 habitants to 11.8/100 Baseline: 55.8% in 2007 the level of district hospitals habitants for outpatients (target 12.8/100). Update: 86.4% (Dec 2013) According to this data, the target was met for Target:66% in 2015 Baseline (2012): inpatients and mostly met for outpatients. In patient 5.1/100 Mostly achieved. (ii) in math Outpatient 11.6/100 Baseline: 70.5% in 2007 Update: 98.7% (Dec 2013) Target: (Dec 2014) Target: 80% in 2015”. In patient 5.6/100 (+10%) Outpatient 12.8/100 (+10%) The last ISR: S (December 2016) of the School Education Quality Assurance Project (P091747, FY09) reports the following achievements – but does not provide gender disaggregated information (Partially Achieved): (i) in Vietnamese 86.99% of Grade 5 students achieved a good or excellent classroom assessment in Vietnamese as a proportion of all G5 students with test results (national), as of June 2015. Achieved. (i) in Math 85.31% of Grade 5 students achieved a good or excellent classroom assessment in Vietnamese as a proportion of all G5 students with test results (national), as of June 2015. Partially Achieved. Annexes CLR Review 32 Independent Evaluation Group Annex Table 2: Vietnam Planned and Actual Lending, FY12-FY16 Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount Project Planned Under CPS/CPSPR 2012-2016 P111183 PRSC 10 2012 2012 2012 150.0 150.0 IEG: S Public Sector Governance DPO** P122793 EMCC 1 2013 2013 2014 250.0 250.0 IEG: MS Economic Policy DPO** P146095 EMCC 2 2014 2014 2015 250.0 250.0 IEG: MS Economic Policy DPO** P124174 Power Sector Development DPO 2 2012 2012 2014 200.0 100.0 100.0 IEG: S Energy and Mining DPO** Mekong Delta Transport Additional P126605 2013 2013 156.0 156.0 Transport Investment Lending* Financing P125996 Distribution Efficiency 2013 2013 2019 448.0 448.9 LIR: S Energy and Mining Investment Lending* P144675 Power Sector Development DPO 3 2014 2014 2016 200.0 IEG: S Energy and Mining DPO** P123961 Road Asset Management 2014 2014 2021 250.0 250.0 LIR: S Transport Investment Lending* DROPPED Dau Giay-Phan Thiet Expressway 2014 DROPPED Innovation, Tech. & P121643 Inclusive Innovation 2013 2013 2019 55.0 55.0 LIR: U Investment Lending* Entrepreneurship Practice P116354 Higher Education DPO 3 2013 2013 2014 50.0 50.0 IEG: MS Education DPO** Fostering Innovation through P117394 2013 2013 2019 100.0 100.0 LIR: MU Education Investment Lending* Science Research and Technology DROPPED Private Higher Education Loan Fund 2014 DROPPED Forest Sector Development Agriculture and Rural P126542 2012 2012 30.0 30.0 Investment Lending* Additional Financing Development Coastal Resources for Sustainable P118979 2012 2012 2018 100.0 100.0 LIR: S Environment Investment Lending* Development P122701 Regional Wildlife Conservation 2013 Environment TF Agriculture and Rural P124942 Regional Mekong Water Resources 2013 2014 2019 25.0 25.0 LIR: MS Investment Lending* Development Irrigation Modernization and Agriculture and Rural P130014 2014 2014 2021 180.0 180.0 LIR: S Investment Lending* Rehabilitation - Phase 1 Development P113151 Industrial Pollution Control 2013 2013 2019 50.0 50.0 LIR: MS Environment Investment Lending* Annexes CLR Review 33 Independent Evaluation Group Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount HCMC Environment and Sanitation P127978 2014 2015 2021 450.0 250.0 200.0 LIR: MS Water Investment Lending* Phase 2 Danang Sustainable City P123384 2014 2013 2019 203.0 202.5 LIR: MS Urban Development Investment Lending* Development P113904 Mekong Delta Urban Upgrading 2012 2012 2018 292.0 292.0 LIR: MS Urban Development Investment Lending* P116398 Medium Cities Development 2012 2012 2018 210.0 210.0 LIR: S Urban Development Investment Lending* P122667 Climate Change DPO 1 2012 2012 2013 70.0 70.0 IEG: S Environment DPO** P127201 Climate Change DPO 2 2013 2013 2014 70.0 70.0 IEG: S Environment DPO** Agriculture and Rural P118783 Managing Natural Hazards 2013 2013 2019 150.0 150.0 LIR: MS Investment Lending* Development P131775 Climate Change DPO 3 2014 2014 2016 70.0 70.0 IEG: MS Environment DPO** P123960 Social Protection Systems 2013 2014 2020 60.0 60.0 LIR: S Social Protection Investment Lending* P128072 Central Highland Poverty 2014 2014 2020 150.0 150.0 LIR: MS Social Development Investment Lending* P117393 School Readiness Promotion 2012 2013 2017 100.0 100.0 LIR: S Education Investment Lending* Rural Transport 3 Additional P113498 2012 2012 97.0 97.0 Transport Investment Lending* Financing North East and Red River Delta Health, Nutrition and P122629 2013 2013 2020 150.0 150.0 LIR: S Investment Lending* Regional Health System Support Population P127435 Rural Sanitation & Water Supply 2013 2013 2020 200.0 200.0 LIR: S Water PforR*** Health Sector Governance Health, Nutrition and P131825 2014 2014 2021 106.0 106.0 LIR: MU Investment Lending* Strengthening Population P143596 Northern Mountains 2014 2014 2021 250.0 250.0 LIR: MS Urban Development PforR*** -HCMC Green Transport P126507 2015 2015 2021 124.0 124.0 LIR: S Transport Investment Lending* Development Transmission Efficiency Project P131558 2015 2015 2020 500.0 500.0 LIR: S Energy and Mining Investment Lending* (TEP) Sustainable Agriculture Agriculture and Rural P145055 2015 2015 2021 250.0 238.0 LIR: MS Investment Lending* Transformation Development Agriculture and Rural P148733 NMPRP-2 Additional Financing 2015 2015 100.0 100.0 Investment Lending* Development Annexes CLR Review 34 Independent Evaluation Group Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount Renovation of General Education P150058 2015 2015 2021 77.0 77.0 LIR: S Education Investment Lending* Project P150060 VN-Enhancing Teacher Education 2016 2016 2022 75.0 95.0 LIR: S Education Investment Lending* P151946 Additional Financing to LIFSAP 2015 2015 45.0 44.7 Education Investment Lending* Vietnam Regional Industry DROPPED 2016 2016 96.0 DROPPED Competitiveness Energy Efficiency for Industrial DROPPED 2016 2016 200.0 DROPPED Enterprises VN Dam Reha. and Safety Impro. P152309 2016 2016 2022 450.0 415.0 LIR: S Water Investment Lending* Project P152460 Vinh Phuc Flood Risk 2016 2016 2022 150.0 150.0 LIR: MS Water Investment Lending* DROPPED Health Service Delivery Reform 2016 2016 100.0 DROPPED Program for Improved Land Investment Lending* P154387 2016 2017 2022 100.0 150.0 Urban Development Governance (postponed to 2017) Results-based Scaling Up RSWS P152693 2016 2016 2022 200.0 200.0 LIR: MS Water Investment Lending* Program Can Tho Urban Development and P152851 2016 2016 2022 250.0 125.0 125.0 LIR: S Urban Development Investment Lending* Resilience Mekong Delta Integrated Climate P153544 2016 2016 2023 250.0 310.0 LIR: S Environment Investment Lending* Resilien Local Road Asset Management P155086 2016 2016 2023 200.0 385.0 LIR: S Transport Investment Lending* Program Not Rated P157405 EMCC3 DPO 2016 2016 2017 250.0 150.0 Economic Policy DPO** Yet Total Planned 0.0 8,339.0 1,475.0 6,836.1 Project Unplanned Under CPS/CPSPR 2012-2016 Climate Change and Green Growth Not Rated P155824 2016 2017 90.0 Environment Investment Lending* in VN Yet Urban Water Supply and P156678 2016 69.0 50.0 Water Investment Lending* Wastewater AF Total Unplanned 0.0 0.0 69.0 140.0 Annexes CLR Review 35 Independent Evaluation Group Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount On-Going Project during the CPS/CPSPR period P052037 VN-HCMC ENVMTL SANIT. 2001 2012 166.3 IEG: MS Water Investment Lending* VN-ROAD NETWORK P059663 2004 2012 225.3 IEG: MS Transport Investment Lending* IMPROVEMT VIETNAM WATER RESOURCES Agriculture and Rural P065898 2004 2013 157.8 IEG: MS Investment Lending* ASSISTANCE Development VN - Forest Sector Development Agriculture and Rural P066051 2005 2015 39.5 IEG: S Investment Lending* Project Development VN-SYSTEM ENERGY, P066396 2002 2013 225.0 IEG: S Energy and Mining Investment Lending* EQUITIZATION & RENEWAB P070197 VN-URBAN UPGRADING 2004 2015 222.5 IEG: S Urban Development Investment Lending* VN -Natural Disaster Risk Mngt Agriculture and Rural P073361 2006 2014 86.0 IEG: MS Investment Lending* Project Development P073763 VN-WATER SUPPLY DEV. 2005 2013 112.6 IEG: MU Water Investment Lending* P074688 VN-RURAL ENERGY 2 2005 2014 220.0 IEG: S Energy and Mining Investment Lending* Public Financial Management P075399 2003 2014 54.3 IEG: S Public Sector Governance Investment Lending* Reform Proj. P075407 VN-Rural Transport 3 2006 2014 106.3 IEG: S Transport Investment Lending* P077287 VN-RRD RWSS 2006 2013 45.9 IEG: S Water Investment Lending* Global Information/ P079344 VN -ICT Development 2006 2014 93.7 IEG: MU Communications Investment Lending* Technology VN-Mekong Regional Health Health, Nutrition and P079663 2006 2012 70.0 IEG: S Investment Lending* Support Proj Population P079665 VN-2ND HIGHER EDUCATION 2007 2012 59.4 IEG: S Education Investment Lending* VN-COASTAL CITIES ENVMT P082295 2007 2015 124.7 IEG: MS Water Investment Lending* SANIT. Health, Nutrition and P082604 VN-HIV/AIDS Prevention Project 2005 2013 35.0 IEG: MS Investment Lending* Population VN-Northern Upland Health Support Health, Nutrition and P082672 2008 2016 60.0 IEG: S Investment Lending* Proje Population Annexes CLR Review 36 Independent Evaluation Group Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount P083581 VN-HANOI URBAN TRANSPORT 2008 2017 155.2 LIR: MS Transport Investment Lending* VN-MKG DELTA TRANSPORT P083588 2007 2016 207.7 IEG: MS Transport Investment Lending* INFRA DEV P084773 VN-Trung Son Hydropower Project 2011 2018 330.0 LIR: S Energy and Mining Investment Lending* P084871 VN-TRANS & DISTRIB 2 2006 2014 200.0 IEG: MS Energy and Mining Investment Lending* P085080 VN-ROAD SAFETY 2005 2013 31.7 IEG: MS Transport Investment Lending* P086508 VN-Priority Infra Investment 2008 2013 152.4 IEG: S Urban Development Investment Lending* Fin Sector Modern and Info Mgnt Financial and Private P088759 2009 2018 60.0 LIR: MS Investment Lending* System Sector Development (I) VN-Livestock Agriculture and Rural P090723 2010 2019 65.3 LIR: S Investment Lending* Competitiveness&Food Safety Development VN-School Education Quality P091747 2009 2017 127.0 LIR: S Education Investment Lending* Assurance VN-Local Development Investment P094055 2010 2016 190.0 IEG: MS Urban Development Investment Lending* (LDIFP) P095129 VN-Northern Delta Transport Dev 2008 2017 170.0 LIR: S Transport Investment Lending* VN-Central North Region Health Health, Nutrition and P095275 2010 2017 65.0 LIR: S Investment Lending* Support Population Agriculture and Rural P096418 VN-Land Administration Project 2008 2015 75.0 IEG: MU Investment Lending* Development P099211 VN-Rural Distribution Project 2008 2013 150.0 IEG: S Energy and Mining Investment Lending* Tax Administration Modernization P099376 2008 2015 80.0 IEG: U Economic Policy Investment Lending* Project Agriculture and Rural P100916 VN-Third Rural Finance Project 2008 2014 200.0 IEG: S Investment Lending* Development VN-Avian & Human Influenza Agriculture and Rural P101608 2007 2014 20.0 IEG: MS Investment Lending* Control &Prep Development VN-Renewable Energy P103238 2009 2018 202.0 LIR: MS Energy and Mining Investment Lending* Development Project P104848 VN-HIFU DEVELOPMENT 2007 2013 50.0 IEG: S Urban Development Investment Lending* VN-EXPRESSWAY DEVEL P106235 2011 2019 470.5 143.0 LIR: MS Transport Investment Lending* DaNang-QNgai Annexes CLR Review 37 Independent Evaluation Group Proposed Proposed Approved Approved Proposed Approved Closing Outcome Project ID Project Name Amount Amount IBRD IDA Sector Comments FY FY FY Rating (CPS) (PLR) Amount Amount VN - Agriculture Competitiveness Agriculture and Rural P108885 2009 2014 59.8 IEG: MS Investment Lending* Project Development P110693 VN New Model University 2010 2018 180.4 LIR: MS Education Investment Lending* VN-Haiphong Urban Transport P111548 2011 2019 175.0 LIR: MS Transport Investment Lending* Project VN-2nd Northern Mountains Poverty Agriculture and Rural P113493 2010 2018 150.0 LIR: S Investment Lending* Redctn Development VN-Mekong Delta Water Mgmt for Agriculture and Rural P113949 2011 2017 160.0 LIR: S Investment Lending* Rural Dev Development P115874 VN-Power Sector Reform DPO 2010 2012 200.0 111.8 IEG: S Energy and Mining DPO** VN - Third Program 135 Phase 2 Agriculture and Rural P117610 2011 2012 50.0 IEG: S Investment Lending* Support Development P118610 VN-Project Preparation TA Facility 2010 2018 100.0 LIR: MS Transport Investment Lending* VN-Urban Water Supply and P119077 2011 2020 200.0 LIR: MS Water Investment Lending* Wastewater Hospital Waste Management Health, Nutrition and P119090 2011 2018 150.0 LIR: MS Investment Lending* Support Population P120946 VN-Public Investment Reform 2 2011 2012 87.3 262.7 IEG: S Public Sector Governance Investment Lending* Total On-Going 0.0 0.0 1,087.8 6,048.3 * Total Approved IBRD/IDA amount of Investment Lending projects: $13,435M (85 projects) **Total Approved IBRD/IDA amount of DPO projects: $1,772M (11 projects: Energy & Mining, Education, Environment, Economic Policy, Public Sector Governance) *** Total Approved IBRD/IDA amount of PforR projects: $450M (2 projects: Water, Urban Development) Source: Vietnam CPS and PLR, WB Business Intelligence Table 2b.1, 2a.4 and 2a.7 as of 2/27/17 LIR: Latest internal rating. MU: Moderately Unsatisfactory. MS: Moderately Satisfactory. S: Satisfactory. HS: Highly Satisfactory. Annexes CLR Review 38 Independent Evaluation Group Annex Table 3: Analytical and Advisory Work for Vietnam, FY12-FY16 Fiscal Country Proj ID Economic and Sector Work Output Type year Vietnam P113836 VN-FY09 Cluster-Infra Policy/Regu Reform FY12 Not assigned Vietnam P113947 FY09 Cluster-Regional Dev & Urbanization FY12 Sector or Thematic Study/Note Vietnam P114386 Vietnam - ICR ROSC Update FY14 Insolvency Assessment (ROSC) Vietnam P118076 VN-Science Tech and Innov Review FY14 Sector or Thematic Study/Note Vietnam P118933 Policy Banks Reform FY12 Not assigned Vietnam P122710 VN - VDR 2012 - Transition to Market FY12 Development Policy Review (DPR) Vietnam P122721 Enhancing role of MSMEs in Vietnam FY12 Not assigned Vietnam P122741 Country Gender Action Plan & Assessment FY12 Women in Development and Gender Study Vietnam P124270 PAAA Vietnam Poverty Analysis FY12 Poverty Assessment (PA) Vietnam P125598 PSIA in Support of Vietnam CC DPO FY12 Other Poverty Study Vietnam P125671 VN-Pro-Poor Rural Dev Central Highland FY13 Other Poverty Study Vietnam P126188 VN-Agriculture Public Expenditure Review FY14 Public Expenditure Review (PER) Vietnam P126889 Adaptation and Low Carbon Development FY15 Sector or Thematic Study/Note Debt management Performance DeMPA Assessment - Vietnam Vietnam P127827 FY12 Assessment(DeMPA) Vietnam P128540 Programmatic Skills and Education AAA FY13 Sector or Thematic Study/Note Vietnam P128790 Programmatic Public Finance Review FY16 Sector or Thematic Study/Note Vietnam P129348 Trade Facilitation, Logistics and Transp FY14 Sector or Thematic Study/Note Vietnam P129404 Trade Logistics and Multimodal Transport FY13 Sector or Thematic Study/Note Vietnam P130039 Municipal Infrastructure Financing FY14 Sector or Thematic Study/Note Vietnam P130360 Performance of the WW Sector in Vietnam FY14 Sector or Thematic Study/Note Vietnam P130442 HCMC Integrated Strategy Note FY15 Sector or Thematic Study/Note Vietnam P130443 Vietnam Development Report 2014 Skills FY14 Sector or Thematic Study/Note Vietnam P131190 Irrigated Agriculture Management Reform FY14 Sector or Thematic Study/Note Vietnam P131224 FCMCG Vietnam ROSC Update FY14 Corporate Governance Assessment (ROSC) Vietnam P131880 FSAP Vietnam FY15 Financial Sector Assessment Program (FSAP) Vietnam P133122 Enhanced Indicators for Transport FY14 Sector or Thematic Study/Note Vietnam P144625 VN-Climate Public Expenditure Review FY15 Public Environmental Expenditure Review (PEER) Vietnam P146040 Valuing the Forests – NCA in VN & Laos FY15 Sector or Thematic Study/Note Debt management Performance SN DeMPA Ho Chi Minh City Vietnam P150423 FY15 Assessment(DeMPA) Vietnam P152574 Climate Change and Poverty in Vietnam FY16 Sector or Thematic Study/Note Vietnam P153523 Health Quality and Equity Study FY16 Sector or Thematic Study/Note Vietnam P153749 Vietnam Household Registration Study FY16 Other Poverty Study Vietnam P154033 Vietnam A&A ROSC Update FY16 Accounting and Auditing Assessment (ROSC) Vietnam P157762 Vietnam Taking Stock Report FY16 Country Economic Memorandum (CEM) Vietnam P157763 Macroeconomic monitoring works FY16 Country Economic Memorandum (CEM) Vietnam P158037 Vietnam Global Value Chains FY16 Sector or Thematic Study/Note Vietnam P158056 Transforming Vietnamese Agriculture FY16 Sector or Thematic Study/Note Annexes CLR Review 39 Independent Evaluation Group Fiscal Proj ID Technical Assistance Output Type year Vietnam P093471 Vietnam Virtual Learning Prog -TF053942 FY16 Not assigned Vietnam P097751 VN-HIV/AIDS strategy and policy dialogue FY13 Not assigned Vietnam P100293 VN-Hydro Safeguards TA FY12 Not assigned Vietnam P107675 VN-GAPAP FY12 Not assigned Vietnam P113854 FIRST #8033 Public Credit Registry FY12 Not assigned Vietnam P116957 VN READ FY15 Not assigned Vietnam P121936 VN Trade Facilitation Assessment FY13 Not assigned Vietnam P122324 CA-VN JWP Urbnztn Rvw Tool & Pilot FY12 Not assigned Vietnam P122619 VN-GFDRR Vietnam DRM Capacity Building FY15 Not assigned Vietnam P122716 FSAP Preparatory TA FY12 Not assigned Vietnam P123867 Health Systems Strengthening Program II FY12 Not assigned Vietnam P123908 VN-RWSS Future Directions TA FY12 Not assigned Vietnam P123959 Vietnam Programmatic Social Safety Net FY12 Not assigned Vietnam P124089 Supporting Citizens Rights in Vietnam FY13 Not assigned Vietnam P124526 VN-HIV/AIDS Awareness & Prevention Pro FY13 Not assigned Vietnam P125180 Vietnam WSS EAAIG TA Program - Advisor FY14 Not assigned Vietnam P125503 VN - KTF Workforce Development (WfD) FY14 Not assigned Vietnam P126041 Developing Robust Flood Defenses in HCMC FY12 Not assigned Vietnam P126546 Developing Knowledge Partnership FY14 Not assigned Vietnam P127671 Review WTE Proposals in Hochiminh City FY13 Not assigned Vietnam P128358 Vietnam Knowledge Transfer FY12 Not assigned Vietnam P128711 Vietnam Programmatic M,E for Poverty Red FY14 Not assigned Vietnam P129656 VN - Programmatic GAC FY12 Not assigned Vietnam P129906 VN-Programmatic Health TA FY14 Not assigned Vietnam P130197 VN Financial Inclusion & A2F PAAA FY15 Not assigned Vietnam P130333 Cumulative Impact Assessment for Rivers FY14 Not assigned Vietnam P130423 VN: Phase 2 - Rural Broadband Strategy FY13 Not assigned Vietnam P131211 HCMC Bus Energy Efficiency Improvements FY14 Not assigned Vietnam P131300 HCMC Integrated Planning for Urban Trans FY14 Not assigned Vietnam P131359 VN: Study on e-ID FY15 Not assigned Vietnam P131493 Results-based approach fr Local Gov Prog FY13 Not assigned Vietnam P131502 Reform Plan VIETNAM FY13 Not assigned Vietnam P131890 Transmission Network Modernization FY13 Not assigned Vietnam P132276 PPP Viability Study for VN Expressway FY14 Not assigned Vietnam P132287 SupRS - Enabling Environment FY16 Not assigned Vietnam P132457 Support for Agricultural Restructuring FY14 Not assigned Vietnam P132458 Subnational Sanitation Capacity Building FY16 Not assigned Vietnam P132779 Safeguards implementation enhancement FY15 Not assigned Vietnam P132797 Enhancing Impact Evaluation FY14 Not assigned Annexes CLR Review 40 Independent Evaluation Group Vietnam P133773 SupRS - Demand Creation and Supply Chain FY16 Not assigned Vietnam P143150 Strategic Options for Financial Recovery FY16 Not assigned Vietnam P143775 TA Support for CIT and VAT Law Amendment FY14 Not assigned Vietnam P143957 TA on Procurement Cap Building Strategy FY14 Not assigned Vietnam P144002 TA to survey SOE information flows FY14 Not assigned Vietnam P144051 TA Workshop on Procurement Law FY14 Not assigned Vietnam P144295 Poverty Reduction in Mountainous Regions FY16 Not assigned Vietnam P144323 Provincial Transport MTEF FY15 Not assigned Vietnam P144765 Review of WSS Delivery in Small Towns FY13 Not assigned Vietnam P146092 Sustainable Urban Energy (SUEEP) Phase 3 FY15 Not assigned Vietnam P146449 Prioritization of Infrastruc Investments FY16 Not assigned Vietnam P149017 Building Resilience in the Mekong Delta FY16 Not assigned Vietnam P149651 Vietnam Water Sector Reform/Regulation FY14 Not assigned Vietnam P149716 VIETNAM: Financing Options Study FY15 Not assigned Vietnam P149904 Equitization of State Forest Companies FY16 Not assigned Vietnam P149907 Leading Change/ Science of Delivery FY16 Not assigned Vietnam P150404 VIETNAM: Capacity Building Workshop FY16 Not assigned Vietnam P150619 Affordable Housing in Vietnam FY16 Not assigned Vietnam P150713 Technical support to SAV - 2014 FY15 Not assigned Vietnam P150728 Vietnam CPFL Diagnostic FY15 Not assigned Vietnam P150729 Use and Management of External Finance FY16 Not assigned Vietnam P151107 VN State Asset Management Law Revision FY16 Not assigned Vietnam P152088 TA to support Accounting Reforms FY15 Not assigned Vietnam P152492 WSS Provincial Master Plan for Quang Nam FY16 Not assigned Vietnam P153411 Establishing a National Logistics Forum FY16 Not assigned Vietnam P153619 Assessment of feasibility of CIFFP FY16 Not assigned Vietnam P153692 Conflict of Interest TA FY16 Not assigned Vietnam P154151 Study on IA in Public Sectors of VN FY15 Not assigned Vietnam P154325 Visiting Scholar Program FY16 Not assigned Vietnam P154602 Vietnam Open Budget Process Capacity Bui FY16 Not assigned Vietnam P154611 Vietnam Urban Management Capacity FY16 Not assigned Vietnam P154692 Vietnam GFMIS TA FY16 Not assigned Vietnam P155182 Strengthening Rail Transport Services FY16 Not assigned Vietnam P156649 VN-Programmatic Strengthening Procuremen FY16 Not assigned Vietnam P158058 Support to NTP on New Rural Development FY16 Not assigned Vietnam P158392 VN-Development of IA Legal Framework FY16 Not assigned Vietnam P158482 Mobilizing the Private Sector FY16 Not assigned Vietnam P158484 Public Health Expenditures Review FY16 Not assigned Vietnam P158607 CSO Media Partnership on A2I FY16 Not assigned Vietnam P158829 Priotization-Public Investment Projects FY16 Not assigned Vietnam P158990 Training Events for Media: Sidewal FY16 Not assigned Annexes CLR Review 41 Independent Evaluation Group Vietnam P159004 Vietnam User Feedback Survey and System FY16 Not assigned Vietnam P159663 Social Assistance FY16 Not assigned Vietnam P159664 Social Insurance FY16 Not assigned Vietnam P160176 Ethnic Minority Law in Vietnam FY16 Not assigned Vietnam P160289 Vietnam Unit Cost Study for Universities FY16 Not assigned Vietnam P160330 Roadmap - Reforming HE Capital Financing FY16 Not assigned Vietnam P160497 Just in Time Drought Response FY16 Not assigned Source: WB Business Intelligence 02/24/17 Annex Table 4: Vietnam Grants and Trust Funds Active in FY12-16 Project Approval Closing Approved Outcome Countries Project name TF ID ID FY FY Amount Rating Third Economic Management and Vietnam P157405 TF A3028 2016 2017 12,254,750 No Rate Competitiveness Credit Vietnam P155260 Vietnam Climate Innovation Center (VCIC) RETF TF A1407 2016 2018 3,800,000 Capacity Building for Involuntary Resettlement in Vietnam P148864 TF 16492 2015 2018 400,000 Energy Sector in Viet Nam Vietnam P146095 Economic Management Competitiveness Credit 2 TF 17737 2015 2015 23,000,000 IEG: MS Improvement of Statistical Dissemination in Vietnam P133374 TF 13722 2014 2016 308,300 Vietnam Vietnam P123961 Vietnam Road Asset Management Project TF 15733 2014 2016 1,584,904 Vietnam P144037 Public Transport Authority Development Project TF 14638 2014 2017 280,000 Vietnam P110477 Vietnam Renewable Energy Development Project TF 16854 2014 2022 16,594,756 No Rate Vietnam P110477 Vietnam Renewable Energy Development Project TF 97238 2011 2015 257,000 Legal Services for Development and International Vietnam P143519 TF 14047 2014 2017 250,000 Finance Mekong Delta Transport Infrastructure Vietnam P126605 TF 13700 2013 2016 15,603,058 No Rate Development Project - Additional Financing Results-Based Rural Water Supply and Sanitation Vietnam P127435 TF 13061 2013 2016 8,319,208 LIR: S Under the National Target Program Vietnam - Coastal Resources for Sustainable Vietnam P124702 TF 14293 2013 2018 6,500,000 LIR: S Development Dau Giay-Phan Thiet Expressway Pilot PPP Vietnam P149484 TF 13116 2013 2016 1,834,115 Project Vietnam P113151 Vietnam Industrial Pollution Management Project TF 98492 2011 2013 300,000 Vietnam P128726 Vietnam-Partnership for Market Readiness (PMR) TF 13956 2013 2015 365,000 Vietnam P125996 Distribution Efficiency Project TF 13456 2013 2016 7,975,402 LIR: S Vietnam P125996 Distribution Efficiency Project TF 13468 2013 2019 30,000,000 LIR: S Vietnam P124584 Vietnam- FCPF REDD Readiness TF 13447 2013 2017 3,800,000 Vietnam: Global Partnership for Education - Vietnam P120867 TF 13048 2013 2016 84,600,000 IEG: S Vietnam Escuela Nueva Project Vietnam: Strengthening the Capacity of Vietnam P129532 TF 11936 2013 2016 200,000 Accounting and Auditing Policies Department. Vietnam P115762 Vietnam-HCFC Phase-out Project (Phase I) TF 12705 2013 2017 9,763,820 LIR: S Vietnam P115762 Vietnam-HCFC Phase-out Project (Phase I) TF 99655 2011 2012 46,400 Annexes CLR Review 42 Independent Evaluation Group Project Approval Closing Approved Outcome Countries Project name TF ID ID FY FY Amount Rating Vietnam-Modernizing the Vietnam Association of Vietnam P129533 TF 11743 2013 2016 350,000 Certified Public Accountant (VACPA) Vietnam P113904 Mekong Delta Region Urban Upgrading Project TF 94934 2010 2012 400,000 Vietnam - Strengthening Public Procurement Vietnam P129374 TF 11596 2013 2016 220,000 Legislation Wildlife consumption in Vietnam: Reforming Vietnam P122701 policies and practices to strengthen biodiversity TF 11394 2012 2015 1,000,000 conservation Vietnam P111183 Vietnam Poverty Reduction Support Credit 10 TF 13504 2013 2013 7,593,000 No Rate Vietnam P111183 Vietnam Poverty Reduction Support Credit 10 TF 13060 2013 2013 9,753,965 No Rate Climate Change Partnership-Capacity Building Vietnam P126871 TF 10033 2012 2014 1,055,139 Component Catalyzing virtual incubation in rural areas and Vietnam P123838 TF 10726 2012 2013 300,000 replicating business incubators in Vietnam Da Nang-Quang Ngai Expressway Development Vietnam P106235 TF 15072 2014 2016 2,282,751 Project Vietnam P123783 VN-VAHIP additional financing TF 99841 2012 2014 13,000,000 No Rate Strengthening of the Vietnam UrbanForum (VUF) Vietnam P127175 and Operationalizing the National Urban TF 10121 2012 2014 445,000 Upgrading Program (NUUP) Modernization of Audit Methodologies and Vietnam P124550 TF 99267 2011 2015 420,000 Practices of the State Audit of Vietnam Building Better Cities Through Better Urban Vietnam P125159 TF 99259 2011 2015 120,000 Managers Vietnam P116846 Clean Production & Energy Efficiency TF 99859 2012 2017 2,374,407 Vietnam Intergenerational Deaf Education Vietnam P125581 TF 99058 2012 2016 2,798,270 Outreach Project Vietnam P123731 Service Delivery Reform TF 98491 2011 2014 350,000 Vietnam P128911 GRDRR-Vietnam DRM Capacity Building TF 98019 2011 2014 1,500,000 Extending Mobile Applications in Asia through Vietnam P122208 TF 98344 2011 2013 35,000 Social Networking - Vietnam Vietnam Internal Audit Capacity Building for Vietnam P121540 TF 96988 2011 2014 150,000 Ministry of Finance Inspectorate Vietnam P111182 Vietnam Poverty Reduction Support Credit 9 TF 11346 2012 2012 7,300,420 No Rate Vietnam P104528 Vietnam Rural Water (East Meets West) TF 96722 2011 2012 1,500,000 Vietnam: Improving Effectiveness and Vietnam P120444 Sustainability of Social Health Insurance TF 96257 2010 2014 211,060 Expenditures Vietnam P120425 IDF-VN Strengthening Procurement Audit TF 96622 2010 2014 200,000 Vietnam P118797 GPOBA: Vietnam Education Project TF 96470 2010 2014 3,000,000 Vietnam P099460 Vietnam PCB Management Project TF 94744 2010 2015 7,000,000 IEG: MS Vietnam P118257 Vietnam Statistical Strategy Development TF 95152 2010 2012 311,300 VN - Capacity Building for the Management of the Vietnam P115726 TF 94788 2010 2013 298,000 Construction Contracts Capacity Building for Strengthening the Vietnam P115712 Regulatory Framework for the Management of TF 94789 2010 2013 300,000 Investment in Vietnam Annexes CLR Review 43 Independent Evaluation Group Project Approval Closing Approved Outcome Countries Project name TF ID ID FY FY Amount Rating Multi-Donor Trust Fund to Support Public Vietnam P110525 TF 94240 2009 2014 7,188,320 IEG: MS Financial Modernization in Vietnam Vietnam P090374 VN-GEF-Coastal Cities Project TF 94335 2010 2015 5,000,000 IEG: MS Financial Sector Modernization and Information Vietnam P088759 TF 93085 2009 2015 830,000 Management System Improving Quality Basic Educ for Ethnic Minority Vietnam P129983 TF 93411 2009 2013 1,809,000 Children in Three Disadvantaged Provinces Low-Cost Housing: Waste Rice Straw Vietnam P114893 TF 93675 2009 2012 199,685 Construction Panels Vietnam P115440 Sustaining Nitrogen-Efficient Rice Production TF 93746 2009 2012 199,400 Vietnam P106624 Social Security Modernization TF 93094 2009 2013 585,000 Establishment of the GOV PPP Program Vietnam P115474 TF 93471 2009 2012 375,000 Development Office Vietnam P099211 Rural Distribution Project TF 94257 2009 2013 2,323,502 Vietnam P108885 VN - Agriculture Competitiveness Project TF 99702 2012 2014 3,212,355 IDF - Vietnam Capacity Strengthening for the Vietnam P110734 Vietnam Association of Certified Public TF 92507 2009 2012 227,940 Accountants Vietnam P096418 Land Administration Project TF 10988 2012 2015 4,715,000 Vietnam P099376 Tax Administration Modernization Project TF 57847 2008 2015 5,000,000 IEG: U Healthcare support to the poor of the Northern Vietnam P110251 TF 91328 2008 2012 16,816,720 IEG: MS Upland and Central Highlands Mekong Delta Transport Infrastructure Vietnam P083588 TF 91332 2008 2014 27,781,596 IEG: MS Development Project Vietnam P079665 Vietnam: Second Higher Education Project TF 56736 2008 2012 4,800,000 Vietnam P104528 Vietnam Rural Water (East Meets West) TF 91216 2008 2012 3,000,000 Vietnam P075407 Third Rural Transport Project TF 92068 2009 2014 18,284,494 IEG: S Vietnam P075407 Third Rural Transport Project TF 56320 2007 2012 27,690,180 IEG: S VN-Avian & Human Influenza Control Vietnam P101608 TF 57848 2007 2012 5,000,000 IEG: MS &Prep VN-Avian & Human Influenza Control Vietnam P101608 TF 57747 2007 2012 10,000,000 IEG: MS &Prep Vietnam P082295 Coastal Cities Environmental Sanitation Project TF 56325 2007 2015 4,616,400 Vietnam P079663 Mekong Regional Health Support Project TF 56323 2007 2012 5,000,000 IEG: S Vietnam P073361 Natural Disaster Risk Management Project TF 55176 2006 2012 4,500,000 Vietnam National CFC and Halon Phaseout Vietnam P083593 TF 55863 2006 2015 2,358,284 Project Vietnam P080074 VN-GEF-RURAL ENERGY 2 TF 54464 2005 2014 5,250,000 IEG: S Vietnam P082604 HIV/AIDS Prevention TF 96672 2010 2014 26,286,832 IEG: MS Vietnam P074414 VN - GEF Forest Sector Development Proj TF 53397 2005 2013 9,000,000 LIR: S Vietnam P070197 URBAN UPGRADING PROJECT TF 53182 2005 2013 4,839,000 Total 499,193,733 Source: Client Connection as of 02/27/17 ** IEG Validates RETF that are 5M and above Annexes CLR Review 44 Independent Evaluation Group Annex Table 5: IEG Project Ratings for Vietnam, FY12-16 Total Exit Country Proj ID Project name Evaluated IEG Outcome IEG Risk to DO FY ($M) MODERATELY 2012 Vietnam P052037 VN-HCMC ENVMTL SANIT. 246.3 SIGNIFICANT SATISFACTORY MODERATELY 2012 Vietnam P059663 VN-ROAD NETWORK IMPROVEMT 214.7 SIGNIFICANT UNSATISFACTORY 2012 Vietnam P079663 VN-Mekong Regional Health Support Proj 75.0 SATISFACTORY MODERATE 2012 Vietnam P079665 VN-2ND HIGHER EDUCATION 55.3 SATISFACTORY MODEST VN-EC HEALTHCARE SUPPORT TO THE MODERATELY 2012 Vietnam P110251 0.0 SIGNIFICANT POOR SATISFACTORY MODERATELY 2012 Vietnam P111183 VN - PRSC 10 143.2 MODERATE SATISFACTORY MODERATELY 2012 Vietnam P117610 VN - Third Program 135 Phase 2 Support 49.4 MODERATE SATISFACTORY 2012 Vietnam P120946 VN-Public Investment Reform 2 349.8 UNSATISFACTORY MODERATE VIETNAM WATER RESOURCES MODERATELY 2013 Vietnam P065898 159.2 MODERATE ASSISTANCE SATISFACTORY VN-SYSTEM ENERGY, EQUITIZATION & MODERATELY 2013 Vietnam P066396 297.8 SIGNIFICANT RENEWAB UNSATISFACTORY MODERATELY 2013 Vietnam P073763 VN-WATER SUPPLY DEV. 83.1 MODERATE UNSATISFACTORY 2013 Vietnam P077287 VN-RRD RWSS 105.6 SATISFACTORY MODERATE MODERATELY 2013 Vietnam P082604 VN-HIV/AIDS Prevention Project 35.0 SIGNIFICANT SATISFACTORY MODERATELY 2013 Vietnam P085080 VN-ROAD SAFETY 24.0 MODERATE SATISFACTORY MODERATELY 2013 Vietnam P086508 VN-Priority Infra Investment 146.2 MODERATE SATISFACTORY MODERATELY 2013 Vietnam P099211 VN-Rural Distribution Project 123.4 MODERATE SATISFACTORY 2013 Vietnam P104848 VN-HIFU DEVELOPMENT 48.4 UNSATISFACTORY MODERATE 2013 Vietnam P122667 VN-Vietnam Climate Change DPL 69.3 SATISFACTORY MODERATE MODERATELY 2014 Vietnam P073361 VN -Natural Disaster Risk Mngt Project 161.2 MODERATE SATISFACTORY 2014 Vietnam P074688 VN-RURAL ENERGY 2 422.3 SATISFACTORY MODERATE MODERATELY NEGLIGIBLE TO 2014 Vietnam P075399 Public Financial Management Reform Proj. 69.2 SATISFACTORY LOW 2014 Vietnam P075407 VN-Rural Transport 3 203.8 SATISFACTORY SIGNIFICANT MODERATELY 2014 Vietnam P079344 VN -ICT Development 73.5 SIGNIFICANT UNSATISFACTORY MODERATELY 2014 Vietnam P084871 VN-TRANS & DISTRIB 2 387.7 MODERATE SATISFACTORY 2014 Vietnam P100916 VN-Third Rural Finance Project 198.4 SATISFACTORY MODERATE HIGHLY 2014 Vietnam P101608 VN-Avian & Human Influenza Control &Prep 28.5 MODERATE SATISFACTORY MODERATELY 2014 Vietnam P108885 VN - Agriculture Competitiveness Project 54.5 MODERATE SATISFACTORY MODERATELY 2014 Vietnam P110525 VN-MDTF for PFM 0.0 MODERATE UNSATISFACTORY Annexes CLR Review 45 Independent Evaluation Group Total Exit Country Proj ID Project name Evaluated IEG Outcome IEG Risk to DO FY ($M) MODERATELY NEGLIGIBLE TO 2014 Vietnam P116354 VN-Higher Education DPProgram 3rd Oper 49.5 SATISFACTORY LOW MODERATELY 2015 Vietnam P070197 VN-URBAN UPGRADING 353.7 MODERATE SATISFACTORY MODERATELY 2015 Vietnam P082295 VN-COASTAL CITIES ENVMT SANIT. 185.5 MODERATE SATISFACTORY HIGHLY NEGLIGIBLE TO 2015 Vietnam P083593 VN - National CFC & Halon Phaseout Pr 0.0 SATISFACTORY LOW MODERATELY 2015 Vietnam P096418 VN-Land Administration Project 57.6 SIGNIFICANT SATISFACTORY MODERATELY 2015 Vietnam P099460 VN-GEF-PCB Management Project 0.0 MODERATE SATISFACTORY Total 4,470.9 Source: AO Key IEG Ratings as of 02/24/17 Annex Table 6: IEG Project Ratings for Vietnam and Comparators, FY12-16 Total Total RDO % RDO % Outcome Outcome Region Evaluated Evaluated Moderate or Lower Moderate or Lower % Sat ($) % Sat (No) ($M) (No) Sat ($) Sat (No) Vietnam 4,470.9 34 76.1 79.4 73.5 73.5 EAP 18,146.4 205 78.2 71.6 69.8 53.9 World 98,925.2 1,189 83.4 70.9 60.0 45.5 Source: WB AO as of 02/24/17 * With IEG new methodology for evaluating projects, institutional development impact and sustainability are no longer rated separately. Annexes CLR Review 46 Independent Evaluation Group Annex Table 7: Portfolio Status for Vietnam and Comparators, FY12-16 Fiscal year 2012 2013 2014 2015 2016 Ave FY12-16 Vietnam # Proj 55 60 53 49 52 54 # Proj At Risk 10 11 8 9 3 8 % Proj At Risk 18.2 18.3 15.1 18.4 5.8 15.1 Net Comm Amt 7,781.6 8,476.8 7,855.8 8,316.3 9,354.8 8,357 Comm At Risk 1,018.9 1,465.0 850.4 1,423.2 261.0 1,004 % Commit at Risk 13.1 17.3 10.8 17.1 2.8 12.2 EAP # Proj 357 351 354 344 337 349 # Proj At Risk 58 66 65 70 56 63 % Proj At Risk 16.2 18.8 18.4 20.3 16.6 18.1 Net Comm Amt 30,381.1 30,542.3 31,852.5 32,386.0 33,346.1 31,702 Comm At Risk 3,339.1 5,089.2 5,270.3 6,412.3 4,776.1 4,977 % Commit at Risk 11.0 16.7 16.5 19.8 14.3 15.7 World # Proj 2,029 1,964 2,048 2,022 1,975 2,008 # Proj At Risk 387 414 412 444 422 416 % Proj At Risk 19.1 21.1 20.1 22.0 21.4 20.7 Net Comm Amt 173,706.1 176,202.6 192,610.1 201,045.2 220,331.5 192,779 Comm At Risk 24,465.0 40,805.6 40,933.5 45,987.7 44,244.9 39,287 % Commit at Risk 14.1 23.2 21.3 22.9 20.1 20.3 Source: WB BI as of 02/27/17 Annex Table 8: Disbursement Ratio for Vietnam, FY12-16 Fiscal Year 2012 2013 2014 2015 2016 Overall Result Vietnam Disbursement Ratio (%) 16.0 19.9 18.6 21.1 18.8 18.8 Inv Disb in FY 849.2 1,009.1 1,035.7 1,014.7 978.5 4,887.3 Inv Tot Undisb Begin FY 5,316.0 5,063.1 5,573.2 4,818.2 5,193.4 25,963.8 EAP Disbursement Ratio (%) 22.8 19.6 19.9 20.5 19.6 20.5 Inv Disb in FY 3,975.1 3,232.8 3,539.6 3,670.3 3,797.6 18,215.3 Inv Tot Undisb Begin FY 17,421.6 16,461.7 17,830.8 17,923.6 19,399.7 89,037.4 World Disbursement Ratio (%) 20.8 20.6 20.8 21.8 19.5 20.7 Inv Disb in FY 21,048.2 20,510.7 20,757.3 21,851.0 21,148.7 105,315.9 Inv Tot Undisb Begin FY 101,234.3 99,588.3 99,850.1 100,332.8 108,590.9 509,596.4 * Calculated as IBRD/IDA Disbursements in FY / Opening Undisbursed Amount at FY. Restricted to Lending Instrument Type = Investment. AO disbursement ratio table as of 02/27/17 Annexes CLR Review 47 Independent Evaluation Group Annex Table 9: Net Disbursement and Charges for Vietnam, FY12-16 Period Disb. Amt. Repay Amt. Net Amt. Charges Fees Net Transfer FY12 1,405,766,991.8 69,323,489.8 1,336,443,502.0 10,272,509.5 61,072,356.1 1,265,098,636.5 FY13 1,359,673,779.5 80,482,150.3 1,279,191,629.3 14,527,142.2 65,283,485.6 1,199,381,001.5 FY14 1,331,274,178.6 92,883,649.8 1,238,390,528.8 22,760,081.3 74,837,674.2 1,140,792,773.4 FY15 1,359,706,085.6 107,051,392.1 1,252,654,693.5 29,059,078.6 79,362,587.4 1,144,233,027.6 FY16 1,218,141,694.1 127,073,566.9 1,091,068,127.1 40,602,804.0 84,204,468.1 966,260,855.0 Report Total 6,674,562,729.6 476,814,248.8 6,197,748,480.8 117,221,615.6 364,760,571.3 5,715,766,293.9 World Bank Client Connection 02/27/17 Annex Table 10: Total Net Disbursements of Official Development Assistance and Official Aid for Vietnam Development Partners 2012 2013 2014 2015 Australia 127.84 137.93 125.8 125.62 Austria 6.29 4.22 5.08 6.52 Belgium 26.71 30.01 23.51 16.85 Canada 26 21 16.25 23.1 Czech Republic 1.42 1.43 1.09 0.08 Denmark 64.66 41.12 35.46 15.48 Finland 13.92 25.09 19.61 14.79 France 141.62 178.19 158.48 100.22 Germany 105.7 146.81 131.91 153.92 Greece 0.08 .. 0.04 0.02 Iceland .. .. .. .. Ireland 19.4 17.15 16.8 14.53 Italy 4.69 2.44 3.13 3.81 Japan 1255.26 1224.81 1523.09 1201.54 Korea 217.31 245.23 178.84 228.47 Luxembourg 12.02 12.47 12.5 13.12 Netherlands 8.2 0.62 -0.71 -0.58 New Zealand 8.86 10.22 7.95 5.62 Norway 44.22 17.23 19.8 12.42 Poland 2.43 4.33 -0.15 -0.23 Portugal 0.02 0.03 0.03 0.04 Slovak Republic 0.02 0.03 0.05 0.02 Slovenia .. .. .. .. Spain 3.85 -2.1 -1.53 -28.07 Sweden 11.32 10.73 -0.3 -1.02 Switzerland 17.59 30.09 31.81 26.34 United Kingdom 88.22 38.85 25.01 20.05 United States 84.71 107.26 93.56 79.29 DAC Countries, Total 2292.36 2305.19 2427.09 2031.95 Annexes CLR Review 48 Independent Evaluation Group Development Partners 2012 2013 2014 2015 EU Institutions 35.84 55.67 38.51 69.23 International Monetary Fund, Total -12.8 .. .. .. IMF (Concessional Trust Funds) -12.8 .. .. .. Regional Development Banks, Total 233.01 296.45 345.28 369.05 African Development Bank, Total .. .. .. .. African Development Bank [AfDB] .. .. .. .. African Development Fund [AfDF] .. .. .. .. Asian Development Bank, Total 233.01 296.45 345.28 369.05 AsDB Special Funds 233.01 296.45 345.28 369.05 Inter-American Development Bank, Total .. .. .. .. IDB Special Fund .. .. .. .. Caribbean Development Bank [CarDB] .. .. .. .. Council of Europe Development Bank [CEB] .. .. .. .. European Bank for Reconstruction and Development [EBRD] .. .. .. .. Islamic Development Bank [IsDB] .. .. .. .. United Nations, Total 39.03 45.01 45.21 57.48 Food and Agriculture Organisation [FAO] .. 0.09 .. .. International Atomic Energy Agency [IAEA] 0.69 0.59 0.41 0.49 IFAD 19.61 20.24 22.17 30.62 International Labour Organisation [ILO] 1.11 1.16 0.99 1.4 UNAIDS 0.92 1.01 0.8 0.76 UNDP 8.96 9.51 10.47 10.21 UNECE .. .. .. .. UNEP .. .. .. .. UNFPA 2.42 4.73 4.54 4.28 UNHCR 0.61 .. .. .. UNICEF 2.76 3.79 4.01 4.62 UN Peacebuilding Fund [UNPBF] .. .. .. .. UNRWA .. .. .. .. UNTA .. .. .. .. WFP .. .. .. .. World Health Organisation [WHO] 1.95 3.91 1.82 5.1 World Bank Group 1108.13 1193 1259.59 886.66 World Bank, Total 1108.13 1193 1259.59 886.66 International Bank for Reconstruction and Development [IBRD] .. .. .. .. International Development Association [IDA] 1108.13 1193 1259.59 886.66 International Finance Corporation [IFC] .. .. .. .. Multilateral, Total 1461.67 1704.45 1778.76 1488.22 Adaptation Fund .. .. .. .. Annexes CLR Review 49 Independent Evaluation Group Development Partners 2012 2013 2014 2015 Arab Bank for Economic Development in Africa [BADEA] .. .. .. .. Arab Fund (AFESD) .. .. .. .. Climate Investment Funds [CIF] .. 0.88 0.72 0 Global Alliance for Vaccines and Immunization [GAVI] 16.29 41.52 21.73 22.05 Global Environment Facility [GEF] 7.81 9.93 9.21 8.45 Global Fund 33.67 56.34 32.75 50.67 Global Green Growth Institute [GGGI] .. 1.26 0.55 0.73 Montreal Protocol 0.38 1.21 2.39 2.56 Nordic Development Fund [NDF] -0.14 1.49 0.15 0.77 OPEC Fund for International Development [OFID] 0.47 1.7 22.66 20.58 OSCE .. .. .. .. Other Multilaterals .. .. .. .. Other Multilateral, Total 58.47 114.33 90.17 105.8 Bulgaria .. .. .. 0.01 Croatia .. .. .. .. Cyprus .. .. .. .. Estonia .. 0 .. .. Hungary 0.33 0.73 1.37 4.19 Israel 0.96 0.18 0.3 0.25 Kazakhstan .. .. .. .. Kuwait (KFAED) 6.54 5.49 6.35 3.9 Latvia .. .. .. .. Liechtenstein .. .. .. .. Lithuania .. .. .. .. Malta .. .. .. .. Romania 0.17 0.04 0.09 0.12 Russia 2.32 0.35 .. 0.23 Saudi Arabia .. .. .. .. Chinese Taipei .. .. .. .. Thailand 0.94 1.4 1.34 1.19 Timor Leste .. .. .. .. Turkey 0.06 0.08 0.14 0.06 United Arab Emirates 0.04 0.07 0.82 0.04 Other donor countries .. .. .. .. Memo: Private Donors, Total 20.37 19.21 13.92 15.56 Bill & Melinda Gates Foundation 20.37 19.21 13.92 15.56 Non-DAC Countries, Total 11.36 8.35 10.42 10 Development Partners Total 3765.39 4018 4216.27 3530.17 Source: OECD Stat, [DAC2a] as of 02/27/17 Annexes CLR Review 50 Independent Evaluation Group Annex Table 11: Economic and Social Indicators for Vietnam, 2012 – 2015 Vietnam EAP World Series Name 2012 2013 2014 2015 Average 2012-2015 Vietnam Growth and Inflation GDP growth (annual %) 5.2 5.4 6.0 6.7 5.8 4.3 2.6 GDP per capita growth 4.1 4.3 4.9 5.5 4.7 3.6 1.4 (annual %) GNI per capita, PPP (current 4,800.0 5,070.0 5,390.0 5,720.0 5,245.0 14,844.7 14,878.1 international $) GNI per capita, Atlas method 1,550.0 1,740.0 1,900.0 1,990.0 1,795.0 9,630.7 10,672.7 (current US$) (Millions) Inflation, consumer prices 9.1 6.6 4.1 0.6 5.1 2.5 2.7 (annual %) Composition of GDP (%) Agriculture, value added (% 19.2 18.0 17.7 17.0 18.0 5.5 3.9 of GDP) Industry, value added (% of 33.6 33.2 33.2 33.3 33.3 34.8 28.1 GDP) Services, etc., value added 37.3 38.7 39.0 39.7 38.7 59.5 67.9 (% of GDP) Gross fixed capital formation 24.2 23.6 23.8 24.7 24.1 31.7 23.3 (% of GDP) Gross domestic savings (% 30.7 28.8 30.1 28.5 29.5 33.9 24.5 of GDP) External Accounts Exports of goods and 80.0 83.6 86.4 89.8 85.0 32.0 30.2 services (% of GDP) Imports of goods and 76.5 81.5 83.1 89.0 82.5 30.5 29.6 services (% of GDP) Current account balance (% 6.1 4.5 5.0 0.5 4.0 of GDP) External debt stocks (% of 41.2 39.9 40.9 42.5 41.1 GNI) Total debt service (% of GNI) 3.0 2.8 3.8 3.6 3.3 Total reserves in months of 2.5 2.1 2.5 1.9 2.3 15.0 13.2 imports Fiscal Accounts /1 General government revenue 25.3 25.0 23.9 24.0 24.5 (% of GDP) General government total 30.5 29.0 27.9 26.9 28.6 expenditure (% of GDP) General government net lending/borrowing (% of (5.2) (4.0) (4.0) (2.9) -4.0 GDP) General government gross 52.1 50.9 50.8 50.4 51.1 debt (% of GDP) Health Life expectancy at birth, total 75.3 75.5 75.6 .. 75.5 74.7 71.2 (years) Annexes CLR Review 51 Independent Evaluation Group Vietnam EAP World Series Name 2012 2013 2014 2015 Average 2012-2015 Immunization, DPT (% of 97.0 59.0 95.0 97.0 87.0 92.9 85.3 children ages 12-23 months) Improved sanitation facilities 73.1 74.7 76.3 78.0 75.5 75.9 66.7 (% of population with access) Improved water source (% of 91.9 93.6 95.2 96.9 94.4 88.4 83.4 population with access) Mortality rate, infant (per 18.8 18.3 17.8 17.3 18.1 15.2 33.2 1,000 live births) Education School enrollment, 78.3 81.7 81.4 .. 80.5 72.7 43.0 preprimary (% gross) School enrollment, primary 107.0 107.5 109.4 .. 107.9 107.4 105.2 (% gross) School enrollment, .. .. .. .. 87.7 74.7 secondary (% gross) Population Population, total (Millions) 88,809,200 89,759,500 90,728,900 91,703,800 90,250,350 2,256,526,980 7,218,239,265 Population growth (annual 1.1 1.1 1.1 1.1 1.1 0.7 1.2 %) Urban population (% of total) 31.7 32.3 33.0 33.6 32.6 55.2 53.2 Source: DDP as of 02/27/17 *International Monetary Fund, World Economic Outlook Database, November 2016 Annexes CLR Review 52 Independent Evaluation Group Annex Table 12: List of IFC Investments in Vietnam Investments Committed in FY12-FY16 Project Cmt Project Greenfiel Project Original Original Original Loan Equity Net Net Net Primary Sector Name ID FY Status d Code Size Loan Equity CMT Cancel Cancel Loan Equity Comm 37567 2016 Active Electric Power G 9,982 - 9,936 9,936 - - 9,936 9,936 9,936 37669 2016 Active Collective Investment Vehicles E 50,000 50,000 - 50,000 - - 50,000 - 50,000 37723 2016 Active Agriculture and Forestry E 403 - 400 400 - - 400 400 400 37920 2016 Active Finance & Insurance G 18,349 - 18,085 18,085 - - 18,085 18,085 18,085 34305 2015 Active Agriculture and Forestry G 6,557 - 6,560 6,560 - - 6,560 6,560 6,560 36514 2015 Active Finance & Insurance E 25,000 25,000 - 25,000 - - 25,000 - 25,000 32370 2014 Active Construction and Real Estate E 7,576 - 7,526 7,526 - - 7,526 7,526 7,526 33350 2014 Active Accommodation & Tourism Services E 14,000 - 14,000 14,000 - 69 14,000 13,931 13,931 34124 2014 Active Finance & Insurance E 17,350 - 5,701 5,701 - - 5,701 5,701 5,701 34408 2014 Active Collective Investment Vehicles G 15,000 - 15,000 15,000 - - 15,000 15,000 15,000 32185 2013 Closed Finance & Insurance E - 85,837 - 85,837 - - 85,837 - 85,837 33204 2013 Closed Electric Power G 700 - 700 700 - - 700 700 700 33436 2013 Active Industrial & Consumer Products G 300 300 - 300 - - 300 - 300 33615 2013 Closed Electric Power G 800 400 - 400 - - 400 - 400 33724 2013 Active Finance & Insurance E 60,000 707,000 - 707,000 - - 707,000 - 707,000 30272 2012 Active Collective Investment Vehicles G 15,000 - 15,000 15,000 - - 15,000 15,000 15,000 30916 2012 Active Industrial & Consumer Products G 1,800 1,800 - 1,800 - - 1,800 - 1,800 31233 2012 Closed Finance & Insurance G - 20,000 - 20,000 - - 20,000 - 20,000 31300 2012 Active Finance & Insurance E 16,246 - 5,308 5,308 - - 5,308 5,308 5,308 31495 2012 Closed Finance & Insurance E 25,000 15,000 - 15,000 15,000 - - - - 31799 2012 Active Food & Beverages E 50,000 18,000 - 18,000 83 - 17,917 - 17,917 31935 2012 Closed Finance & Insurance G 10,000 10,000 - 10,000 - - 10,000 - 10,000 31963 2012 Closed Finance & Insurance G 30,000 30,000 - 30,000 - - 30,000 - 30,000 Sub-Total 374,063 963,337 98,216 1,061,553 15,083 69 1,046,470 98,147 1,046,401 Annexes CLR Review 53 Independent Evaluation Group Investments Committed pre-FY12 but active during FY12-16 Project CMT Project Greenfield Project Original Original Original Loan Equity Net Net Net Primary Sector Name ID FY Status Code Size Loan Equity CMT Cancel Cancel Loan Equity Comm 27889 2011 Active Finance & Insurance E 120,000 1,188,851 - 1,188,851 - - 1,188,851 - 1,188,851 28509 2011 Active Finance & Insurance G 306,907 - 59,542 59,542 - - 59,542 59,542 59,542 28882 2011 Active Industrial & Consumer Products G 18,439 18,432 - 18,432 - - 18,432 - 18,432 28969 2011 Active Industrial & Consumer Products G 108,000 - 9,000 9,000 - - 9,000 9,000 9,000 29521 2011 Active Transportation and Warehousing G 38,750 38,750 - 38,750 - - 38,750 - 38,750 29745 2011 Active Finance & Insurance G 66,828 40,617 - 40,617 - - 40,617 - 40,617 30492 2011 Active Finance & Insurance E 17,500 342,651 - 342,651 - - 342,651 - 342,651 29641 2010 Active Transportation and Warehousing E 211 - 211 211 - - 211 211 211 29779 2010 Active Electric Power G 1,000 1,000 - 1,000 - - 1,000 - 1,000 25455 2009 Active Transportation and Warehousing G 385,000 70,000 - 70,000 38,499 - 31,501 - 31,501 27091 2009 Active Transportation and Warehousing G 24,043 - 1,000 1,000 - - 1,000 1,000 1,000 27851 2009 Active Finance & Insurance E 12,500 129,586 - 129,586 - - 129,586 - 129,586 25681 2008 Active Finance & Insurance E 37,500 1,835,275 - 1,835,275 - - 1,835,275 - 1,835,275 26662 2008 Active Collective Investment Vehicles G 15,000 - 7,000 7,000 - - 7,000 7,000 7,000 27380 2008 Active Transportation and Warehousing G 15,043 - - - - - - - - 25298 2007 Active Collective Investment Vehicles E 6,150 - 6,150 6,150 - - 6,150 6,150 6,150 25690 2007 Active Collective Investment Vehicles E 2,900 - 2,838 2,838 - - 2,838 2,838 2,838 20926 2003 Active Collective Investment Vehicles E 8,000 - 8,000 8,000 - - 8,000 8,000 8,000 35167 1900 Active Electric Power G 240 - - - - - - - - Sub-Total 1,184,010 3,665,162 93,740 3,758,903 38,499 - 3,720,403 93,740 3,720,403 TOTAL 1,558,073 4,628,500 191,956 4,820,456 53,582 69 4,766,873 191,887 4,766,804 Source: IFC-MIS Extract as of end 1/31/17 Annexes CLR Review 54 Independent Evaluation Group Annex Table 13: List of IFC Advisory Services in Vietnam Advisory Services Approved in FY12-16 Impl Primary Total Project Impl Project Name Start Project Status Business Funds, ID End FY FY Line US$ Vietnam Agricultural Commodities Collateralized 593867 2016 2017 HOLD FIG 4,123,084 Financing/Warehouse Receipts 601106 Vietnam Retail Payments 2016 2019 ACTIVE FAM 1,300,000 601496 VIB SME Banking AS 2016 2018 ACTIVE FIG 325,000 593928 Vietnam Credit Bureau - Phase 2 2015 2017 ACTIVE FAM 1,179,724 599492 Vietnam Debt Resolution 2015 2019 HOLD FAM 2,108,086 599615 Industrial Resource Efficiency 2015 2017 ACTIVE CAS 2,768,603 600807 An Binh Bank AS 2015 2017 ACTIVE FIG 295,517 600818 Vietinbank Risk Management 2015 2017 ACTIVE FIG 375,000 599752 EAP GA - Mekong 2014 2018 ACTIVE CAS 2,140,952 599757 Da Nang Sludge Treatment PPP 2014 2015 TERMINATED CAS 350,026 599892 Vietnam Corporate Governance Phase 2 2014 2018 ACTIVE ESG 2,207,052 600059 Viet Nam Debt Resolution 2014 2019 ACTIVE FAM 3,005,064 Vietnam Agri-Finance and Good Agricultural 600060 2014 2019 ACTIVE MAS 6,560,111 Practices 595627 Vietnam Provincial PPP 2013 2014 TERMINATED PPP 2,122,214 596607 Vietnam Simplified Business Tax Implementation 2013 2017 ACTIVE TAC 1,729,136 599100 Green Building Promotion in Vietnam 2013 2017 ACTIVE CAS 2,320,920 599245 Vietnam Microfinance Development 2013 2018 ACTIVE FIG 2,663,994 599412 Vietnam Secured Transactions Phase 3 2013 2017 ACTIVE FAM 1,493,034 599499 Da Nang City Bus Service PPP 2013 2014 TERMINATED PPP 390,537 ESS- Vietnam Environmental and Social Risk 574667 2012 2017 ACTIVE ESG 1,607,115 management for Banking Sector 590967 Better Work Mekong Sustainability 2012 2014 CLOSED CAS 806,736 Sub-Total 39,871,905 Advisory Services Approved pre-FY12 but active during FY12-16 Impl Primary Total Project Impl Project Name Start Project Status Business Funds, ID End FY FY Line US$ Vietnam Vietinbank for SME Banking and Risk 583727 2011 2014 CLOSED A2F 1,191,047 Management 583747 Vietnam An Binh Bank for SME Banking 2011 2014 CLOSED FIG 623,820 29139 Vietnam PPP 2010 2012 TERMINATED PPP 65,000 561594 ESS-Mekong Renewable Energy Development 2010 2012 TERMINATED SBA 1,600,000 564647 Vietnam Battery recycling 2010 2013 CLOSED SBA 565,363 567868 ECOM FTC Coffee Vietnam 2010 2013 CLOSED SBA 745,294 569808 Vietnam Licensing 2010 2013 CLOSED IC 980,878 Annexes CLR Review 55 Independent Evaluation Group Impl Primary Total Project Impl Project Name Start Project Status Business Funds, ID End FY FY Line US$ 572507 Vietnam CG Forum 2010 2013 CLOSED SBA 810,000 561026 Vietnam Capital Market 2009 2014 CLOSED A2F 1,303,460 561504 Vietnam Cleaner Production Energy Efficiency 2009 2017 ACTIVE FIG 2,660,411 561929 Vietnam Corporate Governance 2009 2014 CLOSED SBA 1,869,455 564330 Vietnam Business Tax Simplification 2009 2013 CLOSED IC 1,285,038 561593 Vietnam Secured Transactions Phase 2 2008 2013 CLOSED A2F 956,338 22296 Vietnam Power 2004 2015 ACTIVE CAS 4,654,414 523324 Vietnam Business Forum 2004 2012 CLOSED IC 1,030,887 Sub-Total 20,341,405 TOTAL 60,213,310 Source: IFC AS Data as of 3-15-17 Annex Table 14: IFC net commitment activity in Vietnam, FY12 - FY16 2012 2013 2014 2015 2016 Total Financial 80,260,046 - (24,299,196) - 12,073,238 68,034,088 Markets Trade Finance 743,943,898 803,604,998 845,622,856 648,934,963 589,402,529 3,631,509,244 (TF) Funds - - - - 50,000,000 50,000,000 Primary Production & - - - 6,563,526 400,792 6,964,317 Commodity Agribusiness & Processing Forestry Packaged Food 14,603,442 (2) (251,115) (204,680) - 14,147,646 & Beverages Animal Protein - - - - 15,185,351 15,185,351 Forest & Wood - 300,000 - - - 300,000 Products Energy Efficient Manufacturing (1,481,250) - - - - (1,481,250) Machinery Tourism, Property Retail, (Construction & - - 7,547,009 - - 7,547,009 Construction & Real Estate) Real Estates (TRP) Tourism - - 14,000,000 - (69,003) 13,930,997 Transportation - (38,499,097) - - - (38,499,097) Infrastructure & Warehousing Electric Power - 1,100,000 400,000 (860,000) 9,975,792 10,615,792 Telecom, Media, and Technology 4,455 (0) - - - 4,455 Technology Collective Private Equity Investment 15,000,000 - 15,000,000 - - 30,000,000 Funds Vehicles Total 852,330,591 766,505,899 858,019,553 654,433,809 676,968,699 3,808,258,551 Source: IFC MIS as of 3-28-17 Annexes CLR Review 56 Independent Evaluation Group Annex Table 15: List of MIGA Activities in Vietnam, FY12 - FY16 Project Max Gross ID Contract Enterprise FY Sector Investor Status Issuance 12869 Hoi Xuan Hydropower Project 2016 Active Power United States 240 Ma San Group Consumer Products 11675 2013 Not Active Manufacturing United States 168 Expansion Project 11342 BT20 National Highway 20 2014 Active Transportation Japan 500 France - United 10077 Hanoi-Haiphong Expressway 2013 Proposed Transportation 650 Kingdom France - 4387 Phu My 3 BOT Power Company Ltd 2003 Active Power 118 Singapore Total 1,676 Source: MIGA 3-29-17