Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) Vietnam Climate Innovation Center (VCIC) RETF (P155260) EAST ASIA AND PACIFIC | Vietnam | Finance, Competitiveness and Innovation Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2016 | Seq No: 4 | ARCHIVED on 10-Sep-2018 | ISR33953 | Implementing Agencies: Socialist Republic of Vietnam, Ministry of Science and Technology (MOST) Key Dates Key Project Dates Bank Approval Date:30-Oct-2015 Effectiveness Date:15-Dec-2015 Original Closing Date:30-Jun-2018 Revised Closing Date:31-Dec-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project's objective is to increase green growth business innovations by supporting entrepreneurs and SMEs involved in technological solutions through the establishment and operation of the Vietnam Climate Innovation Center Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Moderately Satisfactory  Moderately Satisfactory Implementation Status and Key Decisions The World Bank team would like to acknowledge and thank MOST and PMU for their progress in supporting local climate change-related companies and meeting the PDO. The team is pleased to acknowledge that some of the issues noted in previous ISRs have now been addressed, including the retaining of VCIC personal and securing the six-months project extension. Overall the implementation of the second cohort of Proof of Concept companies, with a provision of services and grants, is deemed as satisfactory. Findings from the independent mid-term review highlighted the value 9/10/2018 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) of VCIC in supporting climate entrepreneurs and the overall satisfactions of clients on the services and support provided by the Center. The World Bank team would however like to highlight some areas which requires attention and close supervision: 1. Finalizing recruitment of VCIC positions: The team acknowledges efforts made by VCIC to improve the staffing situation (with no staffing change since July 2017), however a critical position of Program Manager (previously CEO) remains unfilled. The team urges VCIC to complete the recruitment process by October 15, 2018. 2. Finalizing procurement process for consulting companies to build VCIC capacity: Overall, progress of procurement is rated as moderately satisfactory. However, the procurement for the firm to provide capacity building is still not finalized. This has implications on the overall performance and capacity of the center staff as well as affecting the overall project disbursement. As in the case of poin1, it was agreed with PMU that this procurement process will be finalized by October 15, 2018. In case of failure of meeting this deadline, the Bank might opt for canceling both procurement packages. 3. Strengthen VCIC's capacity in World Bank financial management policies: As suggested by the Bank in previous missions, VCIC should continue to pay close attention at strengthening its financial management systems. The mission noted that the issues of withdrawing applications (WAs) not prepared and submitted frequently has not yet been resolved. This resulted in the low balance of the Designated Account (DA) which was sometimes not sufficient for disbursement to the sub-grantees. The project is requested to prepare and submit WAs frequently to ensure sufficient cash is maintained for project implementation. 4. Secure required approvals for processing project additional financing: The World Bank appreciates MOST and VCIC’s efforts in securing the 6-months project extension until December 2018. VCIC should now focus on seeking internal clearances from relevant Ministries and State Bank of Vietnam (SBV) for processing additional project financing ($ 800,000) on a new timeline of June 30, 2020 and facilitate the process to receive a formal request for extension to be submitted by the SBV to the World Bank Country Director by October 31, 2018. PMU should continue to work closely with World Bank project team on the process and keep the World Bank team abreast of any potential delays. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  --  Moderate  Moderate Comments No changes in the risk rating Results Project Development Objective Indicators PHINDPDOTBL Number of businesses that raised early stage finance (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 19.00 19.00 28.00 Date 31-Jan-2017 15-Jan-2018 15-Jan-2018 30-Jun-2018 9/10/2018 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) PHINDPDOTBL Number of businesses who registered their prototype with Intellectual Property (IP) office (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 9.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 Overall Comments Intermediate Results Indicators PHINDIRITBL Number of participants in workshops, training events, seminars, conferences, etc. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4,839.00 4,839.00 300.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Number of businesses/entrepreneurs having access to technical facilities (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 8.00 8.00 50.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2019 9/10/2018 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) PHINDIRITBL Number of partnerships with non-financial services providers (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 23.00 23.00 19.00 Date 02-Nov-2015 15-Jan-2019 15-Jan-2019 30-Jun-2018 PHINDIRITBL Number of households with access to new/improved products/services (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 171,440.00 171,440.00 1,785.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL CO2 emissions avoided (metric tons) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 176,131.00 176,131.00 1,071.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Number of businesses who registered their prototype with Intellectual Property (IP) office (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 9.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 9/10/2018 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) PHINDIRITBL Number of businesses who raised early stage finance (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 19.00 19.00 19.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Amount of early stage finance raised by businesses (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 509,714.00 509,714.00 950,000.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Number of new direct jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 793.00 793.00 378.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Number of Public Private Dialogue (PPD) sessions (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 5.00 7.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 9/10/2018 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) PHINDIRITBL Number of workshops, training events, seminars, conferences, etc. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 22.00 22.00 12.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Amount of funding (grants) received by businesses (USD) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 500,043.00 500,043.00 1,400,000.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 PHINDIRITBL Number of knowledge products developed (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 19.00 19.00 16.00 Date 02-Nov-2015 15-Jan-2018 15-Jan-2018 30-Jun-2018 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P155260 TF-A1407 Effective USD 3.80 3.80 0.00 2.02 1.78 53% Key Dates (by loan) 9/10/2018 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Vietnam Climate Innovation Center (VCIC) RETF (P155260) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P155260 TF-A1407 Effective 30-Oct-2015 15-Dec-2015 15-Dec-2015 30-Jun-2018 31-Dec-2018 Cumulative Disbursements Restructuring History Level 2 Approved on 05-Jun-2018 Related Project(s) There are no related projects. 9/10/2018 Page 7 of 7 Public Disclosure Copy