Project profile — Banking Sector Reform Project

• Vietnam (100.00%)

• Financial policy and administrative management:
Financial policy and administrative management (24010) (65.00%)
Monetary institutions (24020) (15.00%)
Education/training in banking and financial services (24081) (20.00%)

• Gender equality (not targeted)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (significant objective)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)

The goal of the project is to improve regulation of the banking sector in Vietnam, in order to facilitate private sector development and poverty-reducing economic growth. Working with the State Bank of Vietnam in support of the Government of Vietnam's banking sector reform strategy, the project strengthens the banking sector in Vietnam through a targeted program of technical assistance and training to both the State Bank and select commercial banks. This assistance is expected to improve the State Bank's overall organization and management, its ability to carry out its banking supervision functions in a more open, market-oriented economy, and strengthen the governance and operations of commercial banks.

N/A

Results achieved as of the end of the project include: this project has provided technical advice in the drafting and revision of two key laws in Vietnam: Credit Institutions and Banking Supervision. Approximately 1,000 State Bank of Vietnam employees have received extensive training in bank supervision and risk management assessment, including coaching and training to support the design of a manual on risk-based supervision. Changes to the State Bank of Vietnam's organization structure were proposed and a new structure was approved by the National Assembly. These results have contributed to strengthening the management and supervision function of the State Bank of Vietnam and to modernizing and strengthening the banking system in Vietnam, including preparing a risk management regulation and a framework for harmonizing banking sector regulation.

• Proactive disclosure