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  1. 1. Financial Sector Assistance Projects in Vietnam Financial Sector Donor Working Group Active Projects as of November 2007 REFORM AREA TASK DONOR / PROVIDER STATUS START DATE CONTACT State Owned Commercial Banks (SOCBs)
  2. 2. Mekong Housing Bank : Mélody SANG 1. Information technology and management system - core-banking AFD Ongoing 2006 2. Humain ressources development Yann MARTRES : 3. Training for internal auditing Credit line to the Investment Funds for Urban Development of Hochiminh City - HIFU: to provide to HIFU necessary long-term funds to increase HIFU commitments in four prioritized sectors ( health, education, social housing and environment of Ho Chi Minh City) and to offer to AFD Ongoing 2006 final beneficiaries loans with longer length Mélody SANG, Yann MARTRES : TA fot the Investment Funds for Urban Development of Hochiminh City - HIFU : Mélody SANG, 1. Training programs: Yann MARTRES : . Financial skills (excahnge risk managament, financial analysis, credit risk, …) . Management skills (HR development,..) . Courses on Banking and financial English language AFD Ongoing 2006 2. Consulting for strategic planning, balance sheet management, HR management, IT system. 3. Diagnostics and support for the implementation a social and environmental responsibility process in HIFU and in some beneficiary instutions of the AFD credit line to HIFU Marc Gilbert, AFD Support for Implementation of ICB Restructuring Plan AFD Ongoing Sept. 2003 2007 (Will start Klaus-Peter Kriegsmann, ADB implementing in <> PPTA for SOE Reform and Equitization ADB Ongoing Jan 2008) Andreas Hauskrecht, GTZ Reform internal audit of commercial banks GTZ Ongoing 2003 David Brunell, USAID IT upgrades (core banking data processing systems) of joint stock Bob Webster, VNCI banks USAID - VNCI Completed 2004 Bank Restructuring Swiss trust fund
  3. 3. Xiaofeng Hua World Bank Second Payment System and Bank Modernization Project World Bank Ongoing 2005 James Seward, World Bank Payment System Payment System and Bank Modernization for VBARD (extension Marc Gllbert, AFD AFD Ongoing Sept.2003 of the WB PSBM) Yamada Minoru, JICA Vietnam Support for developing Settlement System JICA/BOJ Ongoing Dec.2007 Hisatsugu Furukawa Joint Stock Banks (JSBs) Support regulating and implementing risk management in banking Andreas Hauskrecht, GTZ Ongoing 2003 system GTZ Daniel Lenggenhager, Swiss Cooperation Office TA to the JSBs on credit risk management, asset / liability Switzerland (SECO) / Ongoing Dec 2005 management and human resource development BTC IFC-SME department Credit Risk Management and Loan Portfolio Management and IFC-MPDF Nguyen Hanh Nam, IFC/MPDF Risk Management - Workbook Netherlands trust fund - Training manual On-going Jul-05 - Training of trainers - Training courses US$ 60,000 Partner: Bank Training Center (BTC) Marc Gilbert, AFD Training and enforcement of capacities, specially in the fields of credit policies, risk management and sectoral analysis for VBARD AFD On-going Sept. 2003
  4. 4. Support to Bank Training Center (BTC) to provide quality training to commercial banks Major components: - Building the capacity of trainers IFC-MPDF On-going 2002 Nguyen Hanh Nam, IFC/MPDF - Certification program for credit function US$ 175,000/year Organizational Change Partner: Bank Training Center (BTC) Yamada Minoru, JICA Vietnam Modernization of Currency Issuance & Vault Operation JICA Ongoing April.2007 Furukawa, JICA Advisor to SBV State Bank of Vietnam (SBV)
  5. 5. Andreas Hauskrecht, GTZ GTZ Ongoing 2002 SBV restructuring Seminar series on strengthening capacity for SBV departmental Andreas Hauskrecht, GTZ GTZ Ongoing 2006 executives Lara Bremmer/CIDA CIDA Ongoing Feb. 2004 Long-term training and technical assistance to the SBV on Pierre Seguin/Resident Project Manager supervisory, regulatory and banking services issues IMF/MFD/APD Ongoing Mar-06 Guidance on reforming the SBV to be modern central bank Il Houng Lee, IMF, Nga Ha, IMF, Francisco Fontan, EC SBV Capacity Building European Union Proposed 2005 Daniel Lenggenhager, Swiss Cooperation Office Organizational SBV TATP (technical assistance and training programme); Switzerland (SECO) Ongoing 2005 Graduate Institute of International Studies Change including training on monetary policy Geneva, Prof. Camen IMF/ADB Approved Jan-08 Ben Bingham, IMF, Training course on macroeconomics forecasting and modeling Training course on capital inflows IMF Approved Mar-08 Ben Bingham, IMF, Nga Ha, IMF, Yamada Minoru, JICA Vietnam TA on Currency Issuance & Vault Operation JICA Ongoing April.2007 Furukawa, JICA Advisor to SBV
  6. 6. Andreas Hauskrecht, GTZ GTZ Ongoing 2000 Strengthening banking supervision/auditing Support SBV implementing its prudential financial stability Andreas Hauskrecht, GTZ GTZ Ongoing 2007 reporting system VV Subramanian, ADB Anti-money laundering- assessment and assistance for drafting ADB Ongoing Sept. 2005 Supervision/ Safety- decree, action plan for FIU establishment Soundness Technical assistance missions on Anti-money laundering- legal Standards IMF Ongoing Dec. 03 framework and FIU operation. Ben Bingham, IMF, Nga Ha, IMF, Hans Farnhammer, EC Compliance and Audit of Bank Supervision Information European Union Ongoing 2005 Requirements & Training for SBV bank inspectors in the field of bank supervision
  7. 7. Andreas Hauskrecht, GTZ GTZ/ADB Ongoing 2003 Review of State Bank and Credit Institutions Laws Lara Bremmer/CIDA CIDA Ongoing Jun-03 Pierre Seguin/Resident Project Manager Technical advice on the State Bank and Credit Institutions Laws Andreas Hauskrecht, GTZ GTZ Ongoing Introduction of international standards (Basel Principles) David Brunell Workshops, legal analysis and reference materials to support the USAID-STAR Project Ongoing Aug. 2004 development by the SBV of the key implementing decrees for the Dan Rathbun, STAR amended Law on Credit Institutions Yamada Minoru, JICA Vietnam Tomohiro Fujiyama, First Secretary, Embassy of Legal Framework Support of Review of SBV Law, CI Law, Law on DIV and Japana JICA Ongoing Dec.2006- for Banking Bunkruptcy Law Furukawa, JICA Advisor to SBV VV Subramanian, ADB ADB David Brunell Support for developing Decree on Foreign Banks Ongoing Aug-04 STAR (?) Dan Rathbun, STAR David Brunell USAID (STAR Project) Dan Rathbun, STAR Support for developing the Law on Negotiable Instruments Ongoing Nov-04
  8. 8. World Bank / Spanish James Seward, World Bank Ongoing Nov. 2003 Assessment of the CIC CTF Implementation of strategic framework: drafting legal framework and partnership building: support setup of a private sector credit bureau US$ 110,000 Nguyen Hanh Nam, IFC/MPDF Major components: 1. Technical Assistance: provide legal TA to SBV. This would include: - Developing legal framework - Developing code of conduct - Establishing licensing requirements. MPDF On-going May-06 Credit Information - Providing on-going consultation throughout the process and promotion/dissemination activities. 2. Partnership building/Sourcing: The project will seek interest from potential international credit bureaus and commitment from banking community and then as the trust broker, facilitate the establishment of a private credit bureau with participation of a reputable foreign investor/sponsor. Partner: State Bank of Vietnam David Brunell USAID-STAR Project Ongoing Nov. 2002 Assessment of and technical workshops on the financial sector Dan Rathbun, STAR implications of the US-Vietnam Bilateral Trade Agreement International Graham Alliband, CEG Facility AusAID Ongoing Oct. 2004 Agreements Assistance to SBV in formulating the strategy for international integration for the banking sector SIDA/Swedish Central Karl-Anders Larsson, SIDA Reserves Management Capacity Building Ongoing May-03 Reserves Bank Management INSEE/Banque de Alain Fontanel Ongoing 2002 Training in Macroeconomic model-building and forecasting France/ ADETEF
  9. 9. Ben Bingham, IMF, IMF completed 2002 Workshops in Macroeconomic Policy Coordination Nga Ha, IMF, Sida/Swedish Central Karl-Anders Larsson, SIDA Ongoing 2003 Staff exchange Bank Il Houng Lee, IMF, IMF/MFD Ongoing 2004 Guidance on monetary policy instruments and operations Nga Ha, IMF, Andreas Hauskrecht, GTZ GTZ Ongoing 2002 Monetary Policy Training SBV and Commercial Bankers, Monetary Instruments Yamada Minoru, JICA Vietnam TA on monetary policy and development of secondary market for JICA Ongoing Dec.2006 debt Furukawa, JICA Advisor to SBV Technical Assistance Missions on core-inflation and monetary IMF Ongoing Sept.2006 framework Ben Bingham, IMF, Nga Ha, IMF, Assistance on monetary statistic and reporting system IMF Ongoing Apr-05 Ben Bingham, IMF, Nga Ha, IMF, Yamada Minoru, JICA Vietnam Statistics and database Assistance on monetary statistics and reporting system, including JICA Ongoing Dec.2006 Furukawa, JICA Advisor to SBV support for reviewing financial statistics regime Money Market SME Finance Project (ii) JBIC On-going 2005 Yasuhisa Ojima, JBIC Development
  10. 10. Thao Nguyen, KfW, SME Credit Line (ICBV) KfW Approved 2001 Giang Tran, KfW, SME Development Program Loan (co-financed with ADB and Thao Nguyen, KfW, KfW Ongoing Dec-04 AFD) Giang Tran, KfW, Hans Farnhammer, EC SME Development Fund European Union Ongoing Oct. 2004 Yamada Minoru, JICA Vietnam Assistance on SME finance JICA Ongoing Apr. 2007 Toyoharu Kobayashi, JICA Adviser to ASMED SME Credit Policies VV Subramanian, ADB Housing Finance Facility ADB Ongoing Sep-02 Marc Gllbert AFD Ongoing 2004 Housing Credit Line through Mekong Housing Bank David Brunell, USAID Provide loan guarantees for Vietnamese joint stock banks to USAID On-going 2003 promote (a) credit extended to SMEs and (b) cashflow-based lending practices Policy Lending Institutions Policy Research Nobuyo Hirata, Policy Research Institute, TA for Loan Management of the Bank for Social Policies (VBSP) On-going 2003 Institutte (Japan) MOF (Japan) Operational Framework Ojima Yasuhisa, JBIC Vietnam TA for the development of VDB JBIC/JICA Approved 2008 Yamada Minoru, JICA Vietnam
  11. 11. IFC-MPDF/Switzerland Training for Vietnamese bankers through Bank training center Ongoing Nguyen Hanh Nam (SECO) Government of Training for Vietnamese bankers Ongoing 2005-2007 Luxembourg/ATTF Banking Training Daniel Lenggenhager, Swiss Cooperation Office Training for Banking Universities (Bank Academy & Banking Switzerland (SECO) Approved 2007 University) Daniel Lenggenhager, Swiss Cooperation Office Bank Directors' Course (VNBA; for high-ranking SOCB officials) Switzerland (SECO) Planned 2008 Microfinance Institutions (MFIs)
  12. 12. Implementing the regulatory and supervisory framework for microfinance ADB Ongoing (to be Jun-06 completed in Dec 07) Brett Coleman Développement international Desjardins Approved Feb. 2004 Modernizing a number of People's Credit Fund and improving the (DID)/CIDA services of the Central People's Credit Fund Support development of People's Credit Funds: PCF supervision, Andreas Hauskrecht, GTZ GTZ Ongoing Restart 2004 External Audit, Internal Audit and operations of PCF system guarantee scheme Marc Gllbert AFD On-going Sept. 2003 Loan to support rural enterprise finance through VBARD Takayuki Sato, JBIC Access to JBIC On-going Feb. 2003 Study On Rural Finance Microfinance Thao Nguyen, kfW, KfW Approved 2002 Rural Credit and Saving Program (VBARD) Giang Tran, KfW, Joao Farinha / Thatha Hla ADB Ongoing Jun-05 Developing Agricultural Insurance / Thao Nguyen, kfW, KfW Approved 2001 Revolving Credit Fund for Poverty Alleviation (VBARD) Giang Tran, KfW, Liza Valenzuela, World Bank World Bank Ongoing 2003 Rural Finance Loan - Micro-finance Loan Fund (MLF) and its implementation agencies (Micro-finance Institutions, MFIs) Marcus Leroy, Embassy of Belgium Embassy of Belgium Approved 2004 Institutional strengthening for the Vietnam Women’s Union on providing microfinance and advice on the MFI legal framework IT, Capacity building and Organization Development Technical David Brunell USAID/STAR Ongoing 2007 Assistance to Bank for Social Policy Dan Rathbun, STAR Banks Capacity building Vietnam Bank Advisory Project- Providing advisory services to IFC-MPDF On-going 2007-2010 Nguyen Hanh Nam for banks selected partner finance institutions to assist in product, service and distribution channel development to help expand access to finance for small and medium enterprises. Non-Bank Financial Institutions (NBFIs)
  13. 13. Second Financial Sector Program Loan to support the development of alternative channels of market-based financial On-going (To be intermediation including insurance sector, leasing sector, money ADB Jan. 2003 VV Subramanian, ADB, completed in Dec 2007) market and capital market, and financial market infrastructure such as secured transactions registration and accounting association Helmut Schoen, KfW Leasing Program Loan, co-financed with ADB and AFD to facilitate KfW/ADB Ongoing Dec. 2004 diversification of funding sources of financial leasing companies to improve credit access for SMEs Pradeep Srivastava, Third Financial Sector Program Loan, cofinanced by ADB and ADB/AFD Fact finding mission May 2007 AFD to support the development of the capital marjet (bond Mélody SANG, market, securities market, leasing, insurance) Yann MARTRES, Project Preparatory TA for SME Development Program Loan ADB Ongoing 2007 Madeleine Varkay, ADB <> Subprogram II-Leasing Investment Loan
  14. 14. Government of Leo Faber, Embassy of Luxembourg Capital Market Development In formulation 2007 Luxembourg/ ATTF Andreas Hauskrecht Capital Market Development :Bond Market, Vietnam Securities GTZ Ongoing 2004/5 Depository, Money settlement for securities trading TA for State Capital Investment Corporation IFC-MPDF Ongoing 2007 Thai Thu Hong Kengo Mizuno, NRI NRI (Japan) Approved 2004 Assistance to the MOF to develop the corporate bond market Assistance to the Government (MOF, SBV, MPI, OOG, MOJ) for Trinh Tien Dung, UNDP UNDP Ongoing 2000 external debt management Capacity building assistance to the MOF for financial policy Trinh Tien Dung, UNDP UNDP Ongoing 2003 analysis Paul Marin, USTDA Comprehensive assessment of municipal bond market issuances USTDA Approved 2004 and development Support the SSC to develop the legal framework for securities David Brunell, USAID market development and build capacity for SSC and other USAID Ongoing Sep-05 securities intermediaries; provide public and investor education and training Market-Based Financial Daniel Lenggenhager, Swiss Cooperation Office Intermediation Support to SSC training institute trainers Switzerland (SECO) Ongoing 2007 Secured Transactions Legal Framework Review and Improvement of the National Registration Agency of Secured Transactions: i) Data collection, analysis of the current lending environment and IFC-MPDF and FIAS Approved May 20006 Nguyen Hanh Nam, IFC/MPDF, assistance in addressing the shortcomings in the legal framework (ii) Assistance in identifying the discrepancies in the institutional set up and operation of the NRAST (secured transactions registry) system (iii) Public awareness and knowledge dissemination activities for the end    users of the system David Brunell Supporting the Ministry of Justice to develop the legal framework USAID-STAR Project Ongoing 2002 for secured transactions. Dan Rathbun, STAR Management endorsed. Third Financial Sector Program Loan, cofinanced by ADB and For consideration by the ADB/AFD 2006 AFD to support the development of the capital marjet (bond Board of Directors in market, securities market, leasing, insurance) Dec 07. Pradeep
  15. 15. Sustainable finance program for financial institutions – based on the business case: manage risks and opportunities that arise from IFC-SFMF and social and environmental issues. Major components: IFC-MPDF - Awareness raising seminars (completed) Luxemburg trust fund - Training of trainers Sustainable Finance On-going Aug-05 Nguyen Hanh Nam, IFC/MPDF, - Sustainable finance training (cost sharing) - Targeted technical assistance to committed banks (based on cost-sharing) US$ 230,000 Partner: Bank Training Center (BTC) as implementing agency, targets all financial institutions in Vietnam.