ASEM TRUST FUND II Vietnam’s Implementation Status

ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Mr Nguyen Ba Toan Deputy Director General International Cooperation Department, Ministry of Finance Brusells, June 28th , 2006 ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Contents:    Background Status of implementation Assessment ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Background   ASEM TF2 support to VN economic reform & sustainable growth Three pillars    Economic reform Social programs and human resources Public administration and governance ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Background (Cont.,) TA received from different donors (IFIs, EC and members, Japan, etc)  ATF & are important supporting sources  Focus on financial system reform and social policy reform  ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Background (Cont.,)  17 grants: • • •  Total amount of 9.2 mill USD • •  projects in banking sector projects in corporates reform projects in social sectors and human resource $ 6.9 mil., for financial sector $ 2.3 mil., for social programs Closing date: 30 June, 2006 ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Implementation Status:  projects completed for total disbursement of $2,47 mil., over the granted amount of $2,60 mil., S.N0 Grant name of completed projects Grant Amount, USD Support for Operations and Monitoring of Social Safety Net Fund for Redundant Workers 342,000 Banking Reform Program % Disb as of June 21, 2006 Closing Date 313,885 91.8% 31-Dec-03 694,000 688,067 99.1% 31-Dec-03 Strengthening Community Driven Development 419,000 418,794 100.0% 31-Jan-05 Mekong Housing Bank: Diagnostic Review and Preparation for Strategic Partnering/Equitization 350,400 312,146 89.1% 31-Dec-05 Support for the Operation and Monitoring of the Social Safety Net for Redundant Workers (Phase 2) 369,926 362,189 97.9% 31-Dec-05 Support Development of Social Security Law (SSL) in Vietnam 434,500 375,057 86.3% 28-Feb-06 2,470,138 94.6% Total 2,609,826 Disb as of June 21, 2006 ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Implementation Status (Cont.,)  projects requested for extension to the end of July and August Name of Extended Projects TF # Grant Amount, USD Disb as of June 21, 2006 % Disb as of June 21, 2006 Closing Date Banking Sector Regulation, Supervision and Development 52046 944,500 853,562 90.4% 31-Jul-06 Training of Directors and Management of Enterprises on Corporate Governance 52643 325,000 221,133 68.0% 31-Aug-06 Improving Banking Sector Transparency and Reforming Policy Lending 53398 975,500 698,180 71.6% 31-Jul-06 State Bank of Vietnam’s (SBV) Road Mapping/Master Plan 54268 342,000 53,598 15.7% 31-Aug-06 1,826,473 70.6% 2,587,000 ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Implementation Status (Cont.,)  projects are in final step to complete reports and closing procedure TF # Grant Amount, USD % Disb as of June 21, 2006 Closing Date Monitoring of SOE New Establishment and Transformations 51834 660,000 498,554 75.5% 30-Jun-06 Poverty Reduction in the Education Budget Processes 51961 450,000 230,866 51.3% 30-Jun-06 State Owned Commercial Bank Audit and Basel Core Principle Assessment 52587 640,000 596,785 93.2% 30-Jun-06 Technical Twinning Arrangement for the Implementation of the BIDV Restructuring Plan 53365 874,000 480,763 55.0% 30-Jun-06 Accelerating Capital Markets Development 53399 650,000 442,253 68.0% 30-Jun-06 Support for Strengthening Evidence-Based Pro-Poor Policy Making in Vietnam 53933 305,640 217,855 71.3% 30-Jun-06 Support for the Resolution of non-performing Debt and Asset of State owned Enterprises 54113 427,594 272,364 63.7% 30-Jun-06 2,739,440 68.4% Grant Name 4,007,234 Disb as of June 21, 2006 ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Assessment Overall outcomes  Effective implementation and satisfaction to all recipient agencies and ICSC  Promoted acceleration of restructure process of SOE sector including state-owned commercial banks (400 SOEs and more than 15,000 workers)  Establishment of the Social Safety Net Fund (SSN) and run by well-trained government officials in line with international best practices ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Assessment (Cont.,) Successful training programs, surveys and information dissemination in line with poverty reduction strategy and human resources development Lessons and Experiences:  ASEM TF procedures and disbursement to be learnt by the implementation agencies  Regular meetings of ICSC for effective implementation of the granted projects  Closer coordination among WB officers, ICSC members and staff of recipient agencies  ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 Recommendations:  Continuation of ASEM support to member economies is crucial and strongly recommended  ASEM support should be based on specific needs of individual country, given that its modality and a new instrument might defer from the ASEM TF2 in accordance with the process of regional and global cooperation and integration ASEM TRUST FUND II Vietnam’s Implementation Status - June, 2006 THANK YOU FOR YOUR ATTENTION