Page  1
Document of
 
The World Bank 
 
Report No: 58761 v. 1 
 
RESTRUCTURING PAPER 
 
ON A 
 
PROPOSED PROJECT RESTRUCTURING  
OF  
 
MEKONG TRANSPORT AND FLOOD PROTECTION PROJECT 
CREDIT 3448-VN 
December 20, 2000 
 
AND 
 
MEKONG TRANSPORT AND FLOOD PROTECTION 
–
ADDITIONAL FINANCING 
CREDIT 3448-1-VN 
June 20, 2007 
 
TO THE 
 
SOCIALIST REPUBLIC OF VIETNAM 
 
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2
Regional Vice President:
James W. Adams 
Country Director:
Victoria Kwakwa 
Sector Manager / Director:
Jennifer J. Sara/ John Roome 
Task Team Leader:
Dung Anh Hoang 
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3
VIETNAM 
—
MEKONG TRANSPORT AND FLOOD PROTECTION PROJECT 
P042927 - CREDIT 3448-VN 
AND 
VIETNAM — MEKONG TRANSPORT AND FLOOD PROTECTION – ADD. FINANCING 
P105120 - CREDIT 3448-1-VN 
 
Restructuring Paper 
 
1. 
The closing date for 
Vietnam, Mekong Transport
 
and
Flood Protection project, 
Credit No. 3448-VN, P042927, 
and 
Vietnam, Mekong Transport
 
and
Flood Protection 
–
Additional Financing, Credit No. 3448-1-VN, P105120 
will be extended
 
from December 
31, 2010 until June 30, 2011.   
2. 
Implementation of the projects is considered to be satisfactory overall. With 
current satisfactory implementation performance, most activities under both projects have 
been successfully completed. Disbursements as of December 14, 2010 of the Original 
Project is approximately SDR 77.45 million or 90 percent of the total credit amount of 
SDR 86.2 million. Disbursements under the Additional Financing have reached 
approximately SDR 8.66 million, or 53 percent of the total additional credit amount of 
SDR 16.4 million. 
Both ‘
progress towards achieving its PDO’
 and ‘
overall 
implementation progress
’
are rated satisfactory in the last ISR dated December 27, 2010). 
The Project development objectives are considered still achievable. All key covenants 
have been met. There are now no outstanding issues relating to audits, and reports 
received are of acceptable quality. There are no pending issues regarding the safeguard 
aspects and the project is in compliance with all Legal Covenants. 
3. 
The proposed extension for a 6-month period beyond the closing date is necessary 
to complete on-going activities. The main activities to be supported by the extension are: 
(i) four (04) on-going works contracts (AF funds) totaling 28km; (ii) two (02) on-going 
works contracts for black spot improvement (Original Credit); (iii) Consultancy Services 
for a Feasibility Study for future project (Original Credit – under procurement); and (iv) 
Detailed Design Consultancy Services for remained 30km of roads (Original Credit – 
under procurement). The Bank Task Team has reviewed the Ministry of Transport 
proposed implementation plan to complete the on-going contracts and judges it is 
achievable within the proposed extension time. 
4. 
This will be the third extension of the Original Project - Mekong Transport and 
Flood Protection project (P042927 – Cr. No. 3448-VN) since the original closing date of 
June 30, 2006 and will be the first extension of the Additional Financing (P105120 – Cr. 
No. 3448-1-VN) since the original closing date of December 31, 2010.