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Vietnam - Seventh Poverty Reduction Support Credit Project (English)

The Seventh Poverty Reduction Support Credit Project supports actions to restructure the state sector and promote business development. It also covers measures aimed at fostering social inclusion and better managing natural resources. And it supports governance reforms in areas such as public financial management, public administration, and legal and judicial development. These fundamental reforms provide the foundation upon which the government can then effectively implement sectoral policy actions. The potential volatility of capital inflows makes it important for Vietnam to secure resources on a long-term basis and to signal the support of the international community to its reform program. Strong capital inflows and government interventions in the exchange rate market to prevent the appreciation of the dong resulted in higher inflation, a current account deficit and an asset price bubble in 2007. Bank lending and investments of state-owned enterprises (SOEs) in the stock market and in real estate amplified these trends. Market sentiment might have reversed Sound macroeconomic management will be critical to sustain a strong economic performance and continued poverty reduction in this more turbulent environment. To address this risk, the current credit supports measures aimed at enhancing the effectiveness of macroeconomic policies. They include the assessment of SOE investments in the financial and real estate sectors, the strengthening of banking supervision and corporate governance in banks, and the adoption of criteria to prioritize public sector investments.

Details

  • Document Date

    2008/05/27

  • Document Type

    Project Paper

  • Report Number

    42896

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Vietnam,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2008/06/30

  • Disclosure Status

    Disclosed

  • Doc Name

    Vietnam - Seventh Poverty Reduction Support Credit Project

  • Keywords

    program for poverty reduction;Environment and Natural Resources;nominal effective exchange rate;increase in interest rate;volatility of capital inflows;real estate market;Public Financial Management;current account deficit;financial sector policy;subject to confirmation;stock market price;social inclusion;net present value;system of indicator;external debt service;technical assistance grant;health insurance program;representative household surveys;general budget support;development over time;united nations agency;direct budget support;child mortality rate;acceleration of inflation;sustainable development strategy;Governance and Accountability;managing natural resources;real estate price;price for food;public sector investment;social and environmental;asset price bubble;incidence of malaria;ethnic minority child;ethnic minority groups;disparities in achievement;real estate investment;living in poverty;universal primary education;level of support;program of support;works in practice;recurrent government expenditure;fixed exchange rate;sale of security;open capital account;high inflation rate;short-term capital inflows;spread of hiv;portability of benefits;higher education reform;stock market capitalization;local nongovernmental organization;economic reform;Macroeconomic Policy;Ethnic Minorities;foreign reserve;Social Protection;Exchange Rates;development partner;state sector;Macroeconomic Management;credit growth;trade deficit;public debt;commercial bank;credit support;political will;banking sector;market economy;donor community;civil society;active engagement;monetary policy;financial system;industrial country;world economy;important policy;asean countries;debt burden;results framework;good governance;reform process;public resource;demand-side financing;government liability;reporting system;base case;regular meetings;stabilization program;government bond;investment expenditure;Donor Commitment;fiscal balance;administrative datum;sectoral investment;global slowdown;quantitative targets;export performance;banking reform;construction activities;adjustment package;investment credit;repayment period;investment financing;concessional term;baseline scenario;government action;Gender Equality;environmental resource;government outcome;monitoring indicator;malaria case;currency appreciation;infection rate;foreign exchange;school level;Environmental Resources;foreign currency;institutional responsibilities;Gender Gap;broad money;primary schooling;dollar term;Budget Management;fiscal stance;business association;legal development;government's strategy;stock price;program improvement;effective partnerships;resident representative;train activity;Macroeconomic Statistics;monitoring mechanism;Maternal Mortality;financial resource;donor effort;farm-gate price;international partners;imported inputs;local investor;governance reform;rice farmer;extensive consultation;border price;petroleum product;agricultural commodity;net exporter;international inflation;evaluation framework;consumer basket;world price;consumer price;mountainous area;international market;corporate governance;investment rate;fiscal prudence;inflationary pressure;government intervention;global integration;remote area;support measure;economic slowdown;agricultural product;judicial development;annex annex;average price;Country Maps;legal counsel;labor-intensive good;forest land;public good;commercial forestry;rapid urbanization;land conversion;capital gain;european commission;wooden furniture;economic institution;financial deepening;capital mobilization;infrastructure service;social insurance;export product;donor resource;international community;central planning;exchange market;consumer goods;parallel lending;medium-term outlook;intermediate input;adverse shock;retail trade;capital good;Business Climate;budget expenditure;informal sector;governance dimension;transaction cost;outstanding credit;total credit;credit institution;business sector;social aspect;poverty focus

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Citation

Vietnam - Seventh Poverty Reduction Support Credit Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/356041468172791550/Vietnam-Seventh-Poverty-Reduction-Support-Credit-Project